Posted March 31, 2014
How Fracking Has Helped the U.S. Economy
The Motley Fool: Over the past few years, the U.S. has witnessed a dramatic turnaround in its energy situation. Thanks largely to a combination of horizontal drilling and hydraulic fracturing, or "fracking," energy producers have been able to tap vast oil and gas deposits buried in deep shale formations. As a result, domestic oil and gas production has surged to multi-decade highs.
This energy boom has yielded tremendous and widespread economic benefits to the United States. A statement from the White House Council of Economic Advisors last year summed it up nicely: "Every barrel of oil or cubic foot of gas that we produce at home instead of importing abroad means more jobs, faster growth, and a lower trade deficit." Let's take a closer look at some of the main ways the energy boom has helped the nation's economy.
Read more: http://bit.ly/1i8qC96
More industry news:
Five States and the Gulf of Mexico Produce More than 80 Percent of U.S. Crude Oil: http://1.usa.gov/P9Lnci
Unleash America’s Energy Potential: http://bit.ly/1oi22tT
Natural Gas Just the Beginning: http://bit.ly/1hsivq0
Oil Rigs Extend Record as Texas Eagle Ford Drilling Rises: http://bloom.bg/1fGUXK8
Oklahoma Oil Industry Uses Less than Two Percent of State’s Water: http://bit.ly/1hc0CHJ
Williamsport, Pa., Man Praises Natural Gas Development in Area: http://bit.ly/1mqpMYa
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.