We have oil and gas because of fracking. Without fracking gas would $8.00 to $10.00 gallon
Lol. Hyperbole much?
JFC.
According the to the engineers and scientists working the fields. Without fracking the supply of oil would be way down while demand would be up. Fracking has allowed the supply of oil to be awash. Hence, the price of oil is to stay in the $3.50 a gallon range. More new refineries are starting to come on line.
Coal fired power plants' changeover to nat gas ain't all regulation related either. The economics of fracking have made this possible and the future projected costs of nat gas is that it will be down for some long while due to ample and growing supply.
Then, there's also the move toward nat gas powered 18 wheelers where, presently, 75% of diesel from imported oil goes to.
The cost of fracking is getting cheaper with each well drilled due to economies of scale and greater understanding of the various shale formations and the best methods. All shales are not created equal.
