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Fracking: A contentious issue with an uncertain future

  • March 2015
  • 31 pages
  • MarketLine
Report ID: 3662150

Summary

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Introduction

In the US, fracking has created an oil and gas revolution. It has created jobs and led to greater energy independence. However, the process has many strong opponents who say that the environmental risks are not worth it. This debate has led to several communities and two states in the US to ban fracking. In Europe, fracking is banned in France and has been restricted in the UK.

Features and benefits

* Fracking is controversial. This case study examines claims that fracking wastes water, causes earthquakes, and leaks methane.
* Despite the shale oil and gas revolution in the US, some states and cities have rejected the practice. This case study looks at where and why.
* Fracking has been banned in some countries in Europe, with strict regulations added to others. This is looked at in detail in the case study.
* This case study also looks at how and why oil prices have changed over the last year, and what effects this might have on the fracking industry.

Highlights

In the US, a study found that fracking has created jobs, added $75bn to government coffers, and spurred energy-intensive industries. American information company HIS has estimated that the average American home's income will increase by $2,000 a year in 2015 and $3,500 a year by 2025 because of lower energy bills and reduced prices for goods.
In Europe, countries including France Scotland, Wales, Germany, the Netherlands, and Bulgaria have introduced bans or moratoriums on fracking.
In the UK, restrictions have been placed on fracking. A Guardian analysis found that of the 60% of England that is available for fracking, 39.7% was found to be affected by the bans, including the Yorkshire Dales and the Peak District.

Your key questions answered

* What is fracking? What are the advantages and disadvantages of it?
* How has fracked oil and gas affected the US? Why have some states banned the practice?
* How has the outlook for the UK fracking industry changed over the last couple of years?
* Why have oil prices fallen in the last year?

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