"Rather than expand government, public policy should end preferential subsidies for politically favored energies and privatize such assets as public-land resources and the Strategic Petroleum Reserve. Multibillion-dollar energy programs at the U.S. Department of Energy should be eliminated. Such policy reform can simultaneously increase energy supply, improve energy security, reduce energy...
7. How much of America's natural gas comes from fracking?Submitted by MikeChalberg on Wed, 2012-05-02 16:24
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In 2000, only about 1% of total natural gas production came from fracking. By 2010, that number had risen to nearly 20%. Some sources say that currently fracking accounts for nearly 30% of natural gas production. Still others claim that fracking is responsible for closer to 40%. These numbers can often become a bit hard to decipher because some sources cite the amount of natural gas from fracking, while others cite natural gas from unconventional methods in general. Fracking is included in unconventional methods, but extraction from tight sand is also included. Adding to the confusion over exactly how much natural gas fracking contributes is the fact that fracking is sometimes applied after initial, conventional drilling has already taken place. The amount of additional gas which is produced following the fracking procedure varies. Fracking is applied to about 90% of all wells in the United States.
Global energy demand is expected to increase by about 30% by 2040. Natural gas will most likely be the largest contributor to this rise, specifically gas that is produced from fracking. Natural gas produced from fracking is estimated to rise to over 50% by 2020. Moreover, the American Petroleum Institute (API) claims, "that if fracking were eliminated, natural gas production would fall 57 percent by 2018."
The natural gas industry currently employs 3 million people and adds nearly $400 billion to the American economy. Further, some have claimed that the current supply of natural gas reserves could power the country for over a century. The most recent estimates from the EIA claim that there are over 2500 trillion cubic feet of potential natural gas resources in the United States.
Given these incredible facts, it is hard to believe that the industry will be completely shut down any time soon.