The Rod Martin Report

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The Rod Martin Report
The Rod Martin Report
Anti-Fracking Zealots Are the Enemies of Humanity
Geopolitics, Tech & Markets

Anti-Fracking Zealots Are the Enemies of Humanity

What the frack is wrong with this picture?

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Sep 24, 2014
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The Rod Martin Report
The Rod Martin Report
Anti-Fracking Zealots Are the Enemies of Humanity
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by Paul Driessen
September 24, 2014

Recent news stories underscore the tremendous benefits brought by America’s fracking revolution.

  • The shale oil production boom could boost US crude production to 9.5 million barrels of oil per day (bopd) next year, reducing America’s crude oil imports to 21% of domestic demand, the lowest level since 1968. Output from fracked wells represents 43% of all US oil production and 67% of natural gas production; "frack oil" could hit 10 million bopd by 2016, the Energy Information Administration says.

  • The global economy saves $4.9 billion per day in oil spending because of the shale oil boom. Without it there would be a 3 million barrel per day shortfall and prices would likely be 55% higher: $150/barrel.

  • Constantly improving hydraulic fracturing technologies continue to increase production. For example, Cabot Oil & Gas refracked a 2013 Pennsylvania well, increasing its output to 30.3 million cubic feet of gas per day; that’s four times the output from the best…

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