U.S. Energy Insecurity: Why Fracking for Oil and Natural Gas Is a False Solution
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Promoters of modern drilling and fracking celebrate the industry’s newfound ability to extract oil and natural gas from shale and other tight rock formations, calling it an energy “revolution,” a “paradigm-shifter,” a “rebirth” and a “game changer.” One recent report claims that North America might soon become “the new Middle East,” a net exporter of oil and natural gas. In April 2012, ConocoPhillips’s CEO at the time called shale gas a “blessing.” But for whom is it really a blessing?
Promoters of modern drilling and fracking celebrate the industry’s newfound ability to extract oil and natural gas from shale and other tight rock formations, calling it an energy “revolution,” a “paradigm-shifter,” a “rebirth” and a “game changer.” One recent report claims that North America might soon become “the new Middle East,” a net exporter of oil and natural gas. In April 2012, ConocoPhillips’s CEO at the time called shale gas a “blessing.” But for whom is it really a blessing?
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U.S. ENERGY INSECURITY
Why Fracking or Oil andNatural Gas Is a False Solution
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Execuive Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Inroducion ..........................................................3Terms o he Debae ...................................................4The Decline o Convenional Oil and Naural Gas Producion ................6The Rise o Modern Drilling and Fracking .................................7Shale Gas Euphoria: America’s False Sense o Energy Securiy ................9
U.S. natural gas “abundance” presumes that the industry will drill and frack everywhere
.............................10
U.S. natural gas “abundance” relies on highly uncertain resource estimates
...10
How quickly might U.S. natural gas be consumed? .......................
12Tigh Oil Euphoria: Empy Promises o Oil Independence ...................14Fracking Euphoria: A Threa o Long-ermU.S. Energy Securiy and Independence ..................................15Conclusion and Recommendaions ......................................17Endnoes ............................................................18
U.S. ENERGY INSECURITY
Why Fracking or Oil andNatural Gas Is a False Solution
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