By 2035, Shale gas could contribute to nearly half of America's gas supplies, but as of now it's only 1/3. Prior to reading this article, I for one was't really aware of Shale gas and really what it was. I did research on shale gas it self and learned that it's a actually a natural gas formed from being trapped in shale foundations (shale is basically mud, that's mixed with clay minerals and tiny fragments, mostly quartz).
The Shale Development
Without George Mitchell seeing potential in already known technology of "fracking," and what they called "wasting his time and money," the 10 years and $6m Mr.Mitchell spent in trying to crack the issue other companies couldn't, the plans for our economy's future probably wouldn't be so bright. "Fracking," the drilling technique which releases high pressures into shale deposits to release the natural shale gas, for the last decade, big oil and gas companies couldn't find this breakthrough technology to do so. The article stated that it was surely the "best-spent development," in history of money spend on gas. At some points I am starting to agree.
Obama in his state-of-the-union speech at the beginning of the year, using EIA (The Energy Information Administration) numbers stated that the U.S. has nearly 100 years of gas supplies at current consumption rates. That sounds like a pretty good plan for the future and if the president can see that vision for our country I suppose I can too. Especially if it's saving the U.S. money and keeping us out of a "hole."
Meanwhile, the big question is: How does Shale gas benefit the U.S. economy?
It's a known factor that natural gas is cheaper, especially because it doesn't have to be imported because it's not coming from other country's factories. Having to not import shortens supply chains and because fracking shale deposits is something that the U.S. could do ourselves, It gives us more factory jobs in U.S. That wouldn't just help support American citizens to get them back on our feet, but our economy as well. This in result is helping the U.S. save money and is helping to keep us out of another recession.
Question to You :
Does it seem like Shale Gas is actually boosting/benefiting our Economy? If not who is it benefiting? What would you change about this shale gas development?
SOURCE 1 : http://www.economist.com/node/21558459
SOURCE 2 :http://marcelluscoalition.org/2012/07/shale-gas-boosting-u-s-economy-leading-to-american-energy-sufficiency/http://www.economist.com/node/21558459
Excellent connections to environmental issues and the science behind "fracking." I also have begun to do more research and found this website that illustrates the process with high-quality graphics.
ReplyDeletehttp://exploreshale.org/
In addition to evaluating the economic benefits and costs of fracking, do you think the government has a role in regulating processes like this? Some environmentalists believe that fracking could potentially pollute Americans' drinking water.
Is it possible to find a balance between creating opportunities for business while still thinking long-term about the environment and keeping Americans safe?
http://stateimpact.npr.org/pennsylvania/tag/fracking/
ReplyDeleteWell I honestly didn't know we had this. We don't use this more WHY? I remember back in a program called Yale Model Congress , we had a bill come through about Hydro-Fracking, it posed much debate but eventually passed full committee.
ReplyDeleteTo your question: It doesn't seem like it is boosting our economy as much as it is making it a little more level. It's going to take a while most likely for the benefits of fracking to come through. But eventually it should.
We could stop fighting over in the middle east for what we ( with fracking ) don't need , because its already supplied by our own land.
I like this very very much !