Benefits Of Fracking-Importance Of Hydraulic Fracturing

December 25th, 2014 by James

In today’s competitive world, almost every economy is struggling to cope with recession and cutthroat financial policies and the United States is no exception. The positive point is that the world’s largest economy has managed to continue generating wealth, create jobs, and grow its economy despite all obstacles and the conundrum is answered by Fracking for hydrocarbon fuels.

Benefits Of Fracking-Importance Of Hydraulic Fracturing

Fracking or hydraulic fracturing began in 1947 as an experiment. In 1949, the first commercially successful application happened and approximately 2.5 million fracking operations had been performed around the world on oil and gas wells by the year 2012.

   Every country is trying to reap the innumerable benefits of fracking. It is believed by many industry experts that fracking can actually power even big economies like the United Kingdom for the next half century even a tenth of the shale reserves of the country are used. It is worthwhile to note here that there are around 40 trillion cubic meters of shale gas in northern England alone according to the estimates of a British Geological Survey. It was rightly quoted by David Cameron, the Prime Minister of the United Kingdom and Leader of the Conservative Party, that shale gas projects can benefit communities financially.

The list of advantages associated with Fracking does not end here. Fracked energy is one of the cheapest sources of hydrocarbon energy. Secondly, use of Fracking can create a lot of jobs and the wealth generated can be employed to serve the economy, society, and people in different ways. Thirdly, Fracked gas can be used to improve the balance of payments as it can easily replace the expensive and imported oil and gas.

In short, we need to understand the benefits of Fracking to help grow our economy in more than just a way. This will not only help us and the economies of the world, but it will also lead the right way for the future of our children and grandchildren.

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