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Oil And Gas Fracking Industry

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slowing in oil and gas rig growth, which indicates that the early skeptics who thought this was a temporary production boom requiring numerous new wells to keep output up were wrong. Rather than drilling in new shale formations, oil and gas producers are finding ways to get more out of the formations they have already found. (U.S. Oil & Gas Production On the Rise Thanks to Fracking)
Not everyone forecasts new and lasting supplies of oil and gas. David Hughes of the Post Carbon Institute offers this about availability: “The analysis shows that U.S. tight oil production cannot be maintained at the levels assumed by the EIA beyond 2020. The top two plays—Bakken and Eagle Ford—which account for more than 60% of current production, are likely …show more content…
Rather than a peak in 2021 followed by a gradual decline to slightly below today’s levels by 2040, total U.S. tight oil production is likely to peak before 2020 and decline to a small fraction of today’s production levels by 2040. (Hughes)

New technologies and safeguards are providing proof that “green”, environmentally friendly fracking fields exist in the U.S. As a part of the drilling process, drilling companies should contain and eliminate natural gas leakage during extraction. Methane is a major component of natural gas and a potent greenhouse gas, one third stronger than carbon dioxide. Patrick J. Kiger of National Geographic writes about the new technologies drillers are using to contain the leaks. “Methane emissions from onshore oil and natural gas production could be reduced by 40 percent by 2018, at a cost that's the equivalent of just one cent per thousand cubic feet of natural gas produced…inspectors equipped with infrared cameras can spot leaks at fracking sites, which can then be plugged”. (Kiger) Kiger goes on to write: “Another improvement that can reduce methane emissions: Replacing conventional …show more content…
“From the time the first oil and gas wells were drilled, “pits” have been used to hold drilling fluids and wastes. Pits are used for storage of produced water, for emergency overflow, temporary storage of oil, burn off of waste oil, and for temporary storage of the fluids used to complete and treat the well. The containment of fluids within a pit is the most critical element in the prevention of contamination of shallow ground water. New systems have been developed that avoid the use of pits. One technology that is becoming more common is closed loop fluid handling systems. These systems avoid the use of pits by keeping fluids within a series of pipes and tanks throughout the entire fluid storage process. Since fluid is never placed into contact with the ground, the likelihood of groundwater contamination is minimized.” (Fracfocus.org). With safeguards in place, fracking is an environmentally friendly

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