What was the impact of the shale revolution to the US economy?

What was the impact of the shale revolution to the US economy?

For the US economy as a whole, the shale revolution has had two major effects: reducing energy prices for consumers, and increasing the importance of the domestic oil and gas industry. For consumers, lower energy prices are a clear economic benefit.

What is the shale gas revolution?

The “Shale Revolution” refers to the combination of hydraulic fracturing and horizontal drilling that enabled the United States to significantly increase its production of oil and natural gas, particularly from tight oil formations, which now account for 36% of total U.S. crude oil production.

What challenges are associated with shale gas production?

Induced seismicity (earthquakes) from shale flowback water disposal;Chemical disclosure of fracture fluid additives; Potential ground and surface water contamination; • Air quality impacts; • Local impacts, such as the volume of truck traffic, noise, dust and land disturbance.

What is US shale gas?

Shale gas in the United States is an available source of natural gas. The number of unconventional natural gas wells in the U.S. rose from 18,485 in 2004 to 25,145 in 2007 and is expected to continue increasing until about 2040.

Is shale gas renewable or nonrenewable?

Shale gas is non-renewable, and also polluting but to a lesser extent. Solar is abundant and clean. The three resources are perfect substitutes in electricity generation.

What is shale gas and why is it important?

Shale gas is natural gas that is found trapped within shale formations. Shale gas has become an increasingly important source of natural gas in the United States since the start of this century, and interest has spread to potential gas shales in the rest of the world.

Where is shale deposited?

Shales are often found with layers of sandstone or limestone. They typically form in environments where muds, silts, and other sediments were deposited by gentle transporting currents and became compacted, as, for example, the deep-ocean floor, basins of shallow seas, river floodplains, and playas.

Where did the shale gas revolution come from?

This revolution in natural gas — unleashed by a flood of recently accessible shale gas reserves, once thought to be unrecoverable — is the product of over 25 years of federal agencies and programs driving technology development in collaboration with private gas companies.