The hydraulic fracturing, a.k.a. fracking, modern-day gold rush is quickly doing work on our global energy outlook. The improved technology and increased use of the decades-old technique has unlocked hitherto untapped reserves of oil and natural gas, bettering various countries economic opportunities by expanding domestic energy production and decreasing dependence on foreign sources. What’s more, natural gas has the potential to help the world lower their net carbon emissions, as we’ve already done in the United States.
A lot of countries and interest groups have been resistant to allowing fracking, nervous about ostensible environmental concerns, but after extensive studies the world over have failed to present any robust evidence of the many supposed horrors that radical environmental groups claim fracking can produce, a growing number of states and foreign countries are opening themselves up to the revenue, jobs, and wealth creation that other areas are already seeing as a result of the shale gas boom. Britain finally jumped on the bandwagon this past week. Continue reading.