What started the current fracking boom?

But if the lobbying against fracking forces EPA to ban it altogether (unlikely) or put up a lot of regulations (like the North Sea where only green chemicals are allowed) which decrease fracking activity, the energy dependence of USA on oil and gas imports would significantly increase, pushing up the prices. Geopolitics plays a role as well. read more

Hydraulic fracturing technology, more commonly known as"fracking," paved the way for drilling into America's enormous shale deposits. It has fueled a dramatic boom in U.S. oil production. Back in 2000, there were just 23,000 fracking wells pumping about 102,000 barrels of oil a day. read more

Since fracking began its boom period in the last decade, its supporters have promoted it as the answer to all of the U.S.'s energy issues. It would free us from dependence on foreign oil, they said, thereby strengthening national security. read more

Geopolitics plays a role as well. Europe is heavily dependant on natural gas from Russia. With the invasion of Crimea, they would be a little sceptical of this reliance on Russia and try to look elsewhere. UK and some countries in East Europe have already started lifting their strict regulations against fracking to allow for a source closer home. read more

Hydraulic fracturing in the United States began in 1949. According to the Department of Energy (DOE), by 2013 at least two million oil and gas wells in the US had been hydraulically fractured, and that of new wells being drilled, up to 95% are hydraulically fractured. read more