MENA Development Partners
Fracking - A Global Solution or a Global Curse?
(aka "What the Frack"??)
With so much controversy and public outcry for information and reform on fracking, why would government agencies allow red tape to prevent the evaluation of the extent of environmental danger that fracking chemicals cause?
Those in the energy industry strongly believe that the use of these chemicals in hydraulic fracturing could not possibly poison water or do any other environmental harm. They argue that the only way to support, unlock and utilize the vast amount of domestic energy is through innovations tied to fracking. Growing domestic energy use creates new jobs and increases economic opportunities.
On the other hand, many are apprehensive of the fracking process. They believe this is a new, dangerous and unnecessary practice that stems from greed of the big energy companies. There is already a suspicious attitude toward these companies given their current profitability, influence on the world economic market and how the cost of oil affects them on a daily basis.
Hydraulic Fracturing (aka “fracking”) goes back to the 1920s and has been readily used in the petroleum industry since the 1980s. The current practice of splitting thick, compressed, low-permeable rock to allow oil and natural gas to release is not new at all. The energy industry has used fracking on over 1 million wells over the last 60 years.
So why all the current interest and buzz? Why are companies investing so heavily in looking for the good, bad and ugly as it relates to fracking? Why are politicians so keen to bring fracking into their campaigns?
So might we ask, "What the Frack"?