Why The Future Of Energy Sustainability Begins With Fracking In The USA
A few months ago, Bloomberg released a video that held Fracking as America’s ‘Moneypit’ and implies the shale boom as nothing more than modern day wildcatters who are pulling money from investors into their own pockets, with nothing to show for it.
I am here to tell you that they are mistaken…
Fracking is the key to the future of energy sustainability. Here’s why:
Fracking Means Energy Independence For The US
Before shale drilling technology became available at max capacity within the oil & gas industry, we relied heavily on petroleum imports from foreign factions that dictated a large part of our economic machine with their product.
This leverage was a gigantic tactical disadvantage for the United States because our energy supply was out of reach at all times.
Previous studies concluded that the US reached a peak of about $350 billion in 1980 and 1981. This study also indicated that oil dependence costs reached that level in 2007, soared to approximately $500 billion in 2008.
The benefits from the financial costs to our economy and national security in 2008 alone outweigh the $340 billion hole in Wall Street’s pocket mentioned in the video.
This independence comes with a hidden benefit, the ability to invest in sustainable energy technology.
Good Luck Fighting Global Warming Without Fracking
In 2011, the US invested $6.8 billion in sustainable energy technologies, a 31% increase from 2010.
Since our entire infrastructure relies on oil & gas to function, we need fracking to provide us with the freedom and economic benefit to provide our own energy in order to fund more technology that will ultimately save our planet.
We’ve written previous articles that showcase the benefits of natural gas, and how it’s production process makes it the ‘cleanest’ fossil fuel.
How do we achieve this supply without fracking?
But what about fracking itself, are investors just losing money on it while the US benefits?
Fracking Technology Is Still In The Early Development Stages
Since the shale revolution is barely a decade old, the technology within the extraction and production process is still in its early stages, of course investors will lose money-
That’s how it is with every single new technology that we have ever made.
Our modern infrastructure came from tech that media outlets reported as a ‘moneypit’ as well.
Thomas Edison and Nikola Tesla fought an entire economic war to establish the better currency system, which was plagued with criticism on the losses to investors.
And now we have electricity in even the most remote places in our country, improving the living standards across the planet.
In more recent history, there are tons of tech companies which have innovations that excite even the riskiest of investors-
But these companies have never turned a profit.
Why is fracking being attacked and these tech companies are put on a pedestal?
The Future Of Fracking Is Unwritten
As of right now we will have to wait and see on whether the true investment of Fracking will pay off, but just on the benefits we’ve already seen, i’d say we’re well on the way to a fruitful return.