Posted April 1, 2015
A World Remade by Fracking
Wall Street Journal (Holman W. Jenkins Jr.): If not for fracking, oil would probably be $200 a barrel and gasoline $6.50 in the U.S.
Western economies would likely be in free fall. The grudging U.S. recovery would be in retreat. The modest and possibly illusory green shoots seen in Europe, largely a function of cheap oil and a strong dollar, would wither. Japan would be even more of a write-off than it already is.
Russia would be even more emboldened in its geopolitical predations. Vladimir Putin would be raking in vaster bucks, rather than vastly diminished bucks, for his oil. Europe and the U.S., feeling broke and bedraggled, would be even less eager for confrontation.
Read more: http://on.wsj.com/1xYC44r
More industry news:
Innovation and Efficiency Drive U.S. Oil Supply and Demand: http://onforb.es/1NIXo1s
Crude Production Surges by Highest Volume in 100 Years: http://bit.ly/1NJ3pv0
EIA: Updated Geologic Maps Provide Greater Detail for Marcellus Formation: http://1.usa.gov/1BMhqQ1
Fears of Fracking May Block Needed Mass. Pipeline: http://bit.ly/1NIRsFI
Why Gas Prices in California Are So Much Higher Than Elsewhere in U.S. http://lat.ms/1BRjGqk
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.