Fracking For The Future. California Is The Third Largest

Fracking for the Future California is the third largest in fuel consumption on earth, behind the U.S. and all of China, and with this demand needing to be met and a diminishing supply of fossil fuels, comes the rise of a new revolution, natural gas. With the start of the industrial revolution came the beginning of the use of fossil fuels. Thus, making the United States overly dependent on a limited resource that was also harming our environment. Over the past few decade, nations around the world have realized that the finite amount of fossil fuels is coming to an end, and our need for alternative fuel and energy sources is growing. We have experimented with different types of resources, one of them being natural gas. Natural gas has been a†¦show more content†¦Benjamin Sovacool explains in his article that over the period of twelve years, the United States shale gas production increased 24.5 times the amount it produced in 1998. From 0.2 trillion cubic feet to an enormous 4.9 trillion cubic feet. N atural gas is also a huge financial benefit to North America. Before this drastic increase of fracking and natural gas production, the United States imported a clear majority of its oil and energy sources from the Middle East. This caused the middle east to obtain a control over the United States economic situation. For example, the 1979 oil embargo caused by OPEC (organization of petroleum exporting countries). According to Kimberly Amadeo, their decision to increase oil prices by a meager ten percent, caused oil rationing in the United States and worsened the already declining economy at this time. Since the increase in fracking and natural gas production, the U.S. has become decreasingly reliant on imported energy sources. Richard Janson denotes, that the impact of this influx of cheap gas has had many positive impacts on not only the economics of the energy industry, but foreign policy and the United States domestic policy. With the downfall in the need for imports for energy an d the rise of hydraulicShow MoreRelatedIs Fracking A Natural Gas?2865 Words   |  12 Pagespolicies and build a bright future for Americans and reduce energy-caused risks globally (Mark Green, 2014). 1.1 Environmental aspect As fracking is a good process of drilling natural gas, there must be questions like, â€Å"Is natural gas alternative?† â€Å"How long could people keep drilling?† â€Å"Is it environmental friendly?† Actually natural gas is alternative energy and natural form of energy, which can be used to replace traditional fossil fuels like gasoline and diesel (Fracking, 2014a). , The use of naturalRead MoreOil Resources in Canada Essay2659 Words   |  11 Pagesmanufacturing sector. Anthracite coal is a glossy black coal. This coal has the highest heating value out of all the coal types. Anthracite is the hardest coal and is used for home heating and steel production. Canada has large coal deposits and it is their largest most abundant fossil fuel. Canada has all four types of coal which more than 90% of the deposits are located in the western provinces. Canada has an estimated 6.6 billion tons of coal that could be mined. Mining coal in Canada takes place acrossRead Mor eOil Boom in North Dakota5022 Words   |  21 PagesSaskatchewan, and likely many billions more. In recent years, new technology and high prices have made that oil both easier to get at and more valuable to sell. Today the race to pump it out--via a complex process known as hydraulic fracturing or fracking--is running at an Olympic pace. As a result, North Dakota s economy is the hottest in the U.S. Unemployment there was just three per cent in March, the lowest in the country. In neighbouring Montana, where oil exploration has been far more modestRead MoreEvaluating The Economic Impacts Of Pipeline Useage On The Texas10470 Words   |  42 PagesResearch Purposes The goal of every company is to maximize its profit and shareholder value. This goal can be accomplished by several means such as organizing the production so that the company can make profit in the current time frame as well as in the future, raise the company’s rate of return by making investments and increase the productivity of the employees by motivating them and hence ensure profitability. These activities ensure that the goods and services delivered to the customers are of highestRead MoreExxon Mobile Capstone40455 Words   |  162 Pagesimplications. 1 Executive  Summary   Energy is the most fundamental resource that fuels the entire globe. The Energy sector is of international importance and is widely followed by many national and international organizations. ExxonMobil, the world’s largest public company in market capitalization, is the benchmark for companies operating in the Oil Gas Industry. The actions of industry leaders like ExxonMobil are closely watched by the entire global Oil Gas Industry ecosystem. ExxonMobil recently