The Case for Fracking

Here is a short presentation produced by the American Petroleum Institute (the main US trade association for the oil and natural gas industry) that presents a pretty compelling argument in favor of fracking. Of course given the source, this report is probably at least slightly biased, but I think it still provides plenty of great information. However, we must be sure to look at opposing viewpoints as well.

Anyway, here is the presentation, and - after the break - a summary of what I thought were the most pertinent points it contained.

API Report

• Recent innovations that combine fracking with horizontal drilling in shale formations have unlocked vast new supplies. Enough to "guarantee the United States more than a 100-year supply of . . . natural gas."
• Without fracking the US would lose 45% of domestic natural gas production and 17% of domestic oil production within 5 years.
• In the last 5 years innovations in fracking technologies have led to a 30% increase in natural gas reserves and  a 20% increase in onshore production.
• The Marcellus Shale play ("plays" are the term used for geographic areas being actively searched for natural gas in shale rock) located in Pennsylvania, Ohio, and New York has the potential to be the world's second largest natural gas field.
• The API estimates that this field alone would generate 300,000 new jobs, $6 billion in government revenue, and $25 billion added to the economy by 2020.
• They vehemently deny claims that fracking is harmful to the environment, stating that "there are zero confirmed cases of groundwater contamination connected to the fracturing operation in one million wells hydraulically fractured over the last 60 years." They even make the case that fracking is beneficial to the environment because it reduced air pollution.
• They argue that existing regulations are entirely sufficient, and describe how wells are designed to protect water supplies and how fracking fluid (which they stress is 99.5% water and sand) is always safely disposed. They claim that there are Ground Water Protection Council (GWPC) and EPA studies that support these assertions.