A Fracking Good Story

Should Europe be Fracking?

Fracking came out in '47, and don't believe for a minute when our president gets up there and says the Department of Energy 30 years ago developed fracking.

In fact, the United States is now investing heavily in natural gas without recognizing or caring that its shale gas boom, based on new hydraulic fracturing technology, is likely to make matters worse.

Fluid catalytic cracking (FCC) is one of the most important conversion processes used in petroleum refineries.

Critics of Europe s apparent lack of enthusiasm for fracking miss two key points.

The amazing truth is that fracking has succeeded where Kyoto and carbon taxes have failed. As shown in a study by the Breakthrough Institute, fracking was built on substantial government investment in technological innovation for three decades.

Few economic regions have made much progress in this transformation. In fact, the United States is now investing heavily in natural gas without recognizing or caring that its shale gas boom, based on new hydraulic fracturing technology, is likely to make matters worse.

They contribute to the organic fraction of soil, and their growth releases carbon dioxide back into the atmosphere.

The amazing truth is that fracking has succeeded where Kyoto and carbon taxes have failed.

Fracking would also be a strategic boon, because it would diminish the country s dependence on Russia for gas.

Fracking is not yet a mature technology, and thus it is very likely to improve over time.

Fracking is not a panacea, but it really is by far this decade s best green energy option.

Maybe Europe will become a leader in advanced fracking when the shale gas deposits in the US have already been exhausted.

Indeed, thanks to the new techniques in hydraulic fracturing and horizontal drilling, shale gas may well become the dominant energy resource of the future.

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Of course, technological advances, like hydraulic fracturing ( fracking ) in the shale gas industry, could increase supply and therefore lower prices.

Shale gas contributed almost nothing to US natural gas supplies at the start of the century by last year, its share had soared to 34 , with the US Energy Information Administration predicting a further rise to one half by 2040.

Britain offers generous tax concessions for oil and gas exploration, including bumper deals for companies involved in fracking.

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As shown in a study by the Breakthrough Institute, fracking was built on substantial government investment in technological innovation for three decades.

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