supply of oil for its own citizens rather than importing oil from foreign countries sounds like a convenience, but hydraulic fracturing is not safe for people, wildlife or the environment. There are several steps in the fracking process. Hydraulic fracturing, otherwise known as fracking, forces open fissures in subterranean rocks by introducing liquid at high pressure to extract oil or gas and there are more than 500,000 active natural gas wells in the U.S. (dangersoffracking.com). Each and every
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completion technology known as hydraulic fracturing (fracking) and horizontal drilling allowed the oil and gas industry the ability to tap into natural gas reserves trapped in shale deposits miles beneath the earths’ surface. (Hinton, 2012). Mitchell found that forcing fracking fluid at extremely high pressure into the shale formations created fissures in surrounding rock releasing the hydrocarbons and capturing them in the well head. The fracking fluid, also referred to as slick water, is made up
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essential role in the way our government proceeds in every decision. The Legislative Branch, summed up, created laws and policies. Although the laws and policies are written, they are not yet legal within the system. The Executive Branch is the next step. This branch can either sign off on the laws and policies or veto them. These laws and policies are now legal. The Judicial Branch has the authority to overturn those laws and policies if they are deemed to be unconstitutional. An advantage of
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Hydraulic Fracturing Hydraulic Fracturing, also known as fracking, is a controversial oil and gas extraction process introduced in the late 1940s, which stimulates the movement of oil and natural gas trapped between rocks deep underground (ConocoPhillips, 2013). A large number of water, sand, and chemicals are pumped into the ground to break the rocks and release gas (Publica, 2013). This method increases the output of oil and natural gas. “This process, along with new innovations in horizontal drilling
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Andrew Hayes Advanced Financial Management Fall 2013 Controversy in Corporate Finance: Chesapeake Energy Controversy in corporate finance is nothing new; it has been going on well before the term “corporation” was ever used. The power of money has always been an ongoing factor ever since humans started to use it to obtain goods and services. While, controversy over money is nothing new, controversy in corporate finance is much more complex and complicated, often requiring finance managers
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Property Owners The first group of stakeholders that needs to be represented in this debate is property owners, specifically property owners who also have natural gas under their property or experience environmental and property damage from fracking. Matt Willie addresses the conflict of private property and gas companies. He summarizes that the main issues involved with hydraulic fracturing and property rights are trespassing, pooling, ownership, and damages (Willie, 1752). For trespassing, the
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Agnes Kurthy BUS 140 – Research Paper December 2, 2013 Should the State of California Permit Fracking on a Large Scale Despite a recent decline attributed to a relatively nominal growth over the past couple of years, California continues to rank among the top 10 of the world’s largest economies. It is currently ranked as the world’s ninth largest economy, surpassing many developed nations with an annual GDP exceeding two trillion Dollars, according to a report by CNN last year.1 California’s
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and Advantages Derrick L. Catley Strayer University Professor Dimetri Richardson ENG 215 February 21, 2013 Is Hydraulic Fracking the Answer For the Future Some may say that hydraulic fracturing is the key to our future. Various people say that it will give America a secure energy future. A number of people say it is a step to energy independence. Others say that it is a threat to our society, environment, and our water supply. Others also say that it can cause major
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dominate the energy scene for the next decades, at least. In this context, I want to focus my paper on hydraulic fracturing, fracking. Actually, more specifically, the absolute focus will be to relate this modern method of oil and natural gas extraction with the Eagle Ford Shale, located in South Texas. Specifications and characteristics that make this shale so appealing for fracking will be a part of the following analysis. Overall, the shale is one that could be the biggest production center of oil and
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fracturing (fracking) actually is, as a lot of controversy and misinformation has been released around it. Afterwards the economics of the shale boom will be analyzed, from both a local, national, and international perspective. Finally the environmental impact of shale gas will be discussed, as this is the major concern surrounding the technology. What is Hydraulic Fracturing? Fracking is the term most often used to describe the process of hydraulic fracturing. Unknown to most, fracking is not an
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