scorecard
  1. Home
  2. stock market
  3. A Major Driller Gave Us An Inside Look At What Fracking Is All About

A Major Driller Gave Us An Inside Look At What Fracking Is All About

Rob Wile,Robert Libetti   

A Major Driller Gave Us An Inside Look At What Fracking Is All About

Fracking, Cabot Oil

Robert Libetti/ Business Insider

Fracking, a process in which fluid is pumped into oil and gas wells to increase their productivity, remains mysterious and controversial.

It involves a lot of weird, arcane equipment.

You can't see it happening (since it occurs underground).

And it has developed an air of danger around it. There is evidence it has contaminated water; that spent frack fluid injected into the ground causes earthquakes, and that spilled wastewater has neutered farm animals, though the industry vigorously disputes this. If you've been affected by it, you're sometimes not allowed to talk about it.

At the same time, the increased use of fracking has massively increased U.S. energy production. Oil imports are plummeting. The shale boom has boosted employment. It's reducing energy costs. And many people are convinced the U.S. will soon become energy independent.

We've also argued it helped President Obama get reelected.

And some say it's actually helping the environment by reducing emissions.

Houston-based Cabot Oil and Gas recently agreed to give us a tour of their main outpost in Northeast Pennsylvania, in a sweet spot of the gas-rich Marcellus Shale formation, to see fracking up close.

READ MORE ARTICLES ON



Popular Right Now



Advertisement