Fracking Brings Opportunity and Controversy for Oil and Gas

Ever heard of “frack­ing”? Shale gas and oil shale reserves had been packed into hard, dense deposits, and hydraulic frac­tur­ing (frack­ing) offers an effec­tive method to extract nat­ur­al gas and oil. It’s been deliv­er­ing a lot of cheap nat­ur­al gas to the US and help­ing keep oil prices down.

Frack­ing is bring­ing a lot of big busi­ness oppor­tu­ni­ties and polit­i­cal bat­tles in sev­er­al states.

Devon Ener­gy Corp. made a $6 bil­lion acqui­si­tion – the largest for this year in the oil and gas indus­try; Devon has played an instru­men­tal role in bring­ing more nat­ur­al gas to Amer­i­ca and keep­ing the prices down.

Cal­i­for­nia Gov. Jer­ry Brown is get­ting heck­led by envi­ron­men­tal­ists for per­mit­ting frack­ing in the state after sign­ing a bill into law this fall that will over­see frack­ing oper­a­tions.

OPEC’s pow­er over oil prices is dimin­ish­ing. With huge growth in US shale and Cana­di­an oil sup­ply, ana­lysts think there will be a siz­able boost to glob­al out­put.

Read more about the role of frack­ing and North Amer­i­can oil and gas reserves in fuel sup­ply and prices.

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