In the last 12 years, it has been recorded that the current gas prices are at an all time low mainly due to having an ample supply for the current market.
However, this may be problematic in the long run as many analysts predict that gas prices are expected to rise with the increasing demand but declining supply available.
With rising gas prices, many methods of exploring natural resources which employ alternatives friendly to the environment such as fracking have been developed, since the positive effects of fracking, specifically with the economic impact of fracking, are evident.
There are several fracking benefits and risks, and it pays to look beyond the fracking benefits to help assess if this environmental alternative can be deemed beneficial overall.
Looking beyond the Positive Effects of Fracking
Exploration of natural resources which require wide scale burrowing or drilling has been found to cause environmental problems in the long run if the methods employed are not friendly to the environment and the community.
With this in mind, procedures such as fracking benefits not only the company facilitating it, but the surrounding communities as well bring about the positive effects of fracking.
Fracking involves the use of hydraulic fracturing of the earth where a pressurized mixture of water, sand, and chemicals are used to drill a hole into the land in search of crude oil or shale gas for a greener energy.
With the chemicals and processes involved in hydraulic fracturing, the positive effects of fracking which include the gradual release of stored gases out of the well which can reduce levels of air pollution.
Since the positive effects of fracking or the fracking benefits are apparent, it pays to look at both fracking benefits and risks to ensure that the extraction of shale gas can have little to no negative impact on health and the economy.
Fracking Benefits and Risks
People should look beyond the economic impact of fracking and start looking at both the fracking benefits and risks associated with hydraulic fracturing. Exploring for energy resources involves risks, in particular with the process being employed to acquire such power. Some of the fracking benefits and risks include:
- Fracking can help the economy of the local state.
- Fracking benefits communities by providing job opportunities.
- Fracking helps the environment also in a way where energy is acquired with minimal air pollution.
Despite these pros, the risks associated with hydraulic fracturing involve:
- Environmental issues and global warming contribution.
- Hydrofracking can expose nearby communities to chemicals.
- One of its primary cons is it can also induce a drought in the local area.
The Economic Impact of Fracking
Looking at fracking benefits and risks, studying the economic impact of fracking with the help of experts in economics can help investors assess the dangers and the pros associated with hydraulic fracking.
With the increasing demands from consumers, this process is deemed as a good alternative to some traditional practices to extract shale gas. What makes fracking great is it benefits the community holistically.
These benefits mean the economic impact of fracking can be active while minimizing the number of air pollutants and reducing human exposure to lessen the incidence of chemical exposure.