All signs are pointing in favor of a new fracking economy. Hydraulic fracturing (commonly referred to as fracking), has been used since the 1940s as a method of extracting oil and gas. Today, an abundance of natural gas and new technologies, means opportunities for economic growth. New hydraulic fracturing technologies are being developed everyday to increase fracking efficiency.
Not only can the development of natural gas lead to energy independence for the U.S., the development leads to thousands of jobs within and outside of the oil and gas industry.
Colorado Gov. John Hickenlooper was among a number of governors, who signed a letter to top automotive execs encouraging the development of natural gas vehicles.
Mary Fallin, Oklahoma Gov. and Hickenlooper initiated a multi-state agreement to promote the use of natural gas as a transportation fuel. The letter stated, “Abundant, affordable, clean-burning natural gas presents a tremendous opportunity for America to realize an energy future using domestic resources to fuel our nation’s transportation needs…To that end, we are committed to exploring ways to aggregate our annual state fleet vehicle procurements to provide an incentive to manufacture affordable, functional natural gas vehicles.”
Natural gas drastically cuts harmful emissions from the atmosphere. Fracking, after much speculation, was said to be “OK,” according to EPA Administrator, Lisa Jackson. With the help of the EPA regulations, the number of emissions from hydraulic fracturing will continue to decrease every year.