The United States has returned back to traditional oil and natural gas production when it comes to renewable energy. There have been advances in hydraulic fracturing that have allowed energy companies to access the world’s largest oil and natural gas reserves.
So how does hydraulic fracturing or “fracking” work? Fracking uses subterranean explosives to fracture rock formations. Then water and chemicals are pumped into the fractures. This helps to expand the cracks and release oil and natural gas. Fracking has helped rapid growth in the U.S. energy industry and seeing oil formations produce over a million barrels every day.
This has created jobs to grow by over 40 percent. IHS Global Insight estimates that by the end of 2015 the production industry will have created 870,000 jobs. Manufacturing growth in oilfield equipment leads to big jumps in profit, which require staff to for the demand from everything from rigs to pipes and pumps. Natural gas is producing jobs and economic benefits around the world.
It is so important to focus on reliable and affordable energy for our economy. Affordable supplies and equipment have helped process large amounts of natural energy production. This has helped invigorate the petrochemical industry that relies on feedstock to make plastics and the other building blocks of modern manufacturing. These supplies are strengthening America’s steel industry, which is building new mills and hiring more employees to support hydraulic fracturing. Areas where the production of hydraulic fracturing are occurring are experiencing economic growth, the creation of jobs and increased tax revenue.
One particular oil producer that engages in hydraulic fracturing is independent company, Cunningham Energy. Based in Charleston, West Virginia, Cunningham Energy (CunninghamEnergyNews.com) is a leader in acquiring, exploring and producing oil gas in the Appalachian, Illinois and Williston Basins. Recently the company announced plans for two new shallow horizontal oil wells to be drilled in Kanawha County.
They believe that data has shown strong oil production in these shallow horizons. Cunningham Energy relies on past experiences with ever changing technology to succeed in efficient energy production. Innovation in the fracking process especially with Cunningham Energy, can provide benefits by balancing environmental costs helping the United States catapult toward energy independence (SPE.org).