A new oil drilling technique may open US oil fields previously thought to be unreachable. Fracking is a hydraulic fracturing technique used to penetrate shale for natural gas or oil. Domestic oil production has been declining for 20 years, but fracking could reduce US dependence on foreign oil by half or more, reported the Associated Press.
Companies are spending billions of dollars in hopes of reaching oil fields in North Dakota, Colorado, Texas, California, Wyoming, Nebraska, Kansas and New Mexico. These fields could produce over two million barrels of oil per day by the year 2015, and could raise US oil production by more than 20% by 2016 reported CNBC.
Hydraulic fracturing techniques are often coupled with horizontal drilling, according to Barnette Shale.
Fracking has been used to collect natural gas for over 60 years. Only within the last year has the potential for oil drilling been realized, and profits from oil are higher than for gas. The method involves cracking shale to release natural gas (or oil). Companies such as Royal Dutch Shell, BP, Statoil and Occidental Premium are investing billions of dollars in these fields.
Fracking is used in about 90% of all oil and gas wells currently being drilled worldwide, according to Yellow Springs News.
Oil and Gas Journal reported that options like shale oil could, “supply meaningful quantities of liquid fuels in the long term.” The US has much larger supplies of shale gas than shale oil.
Fracking is not without critics concerned with the environment. Environmental groups like Green Environmental Coalition have hosted public meetings in potential drilling areas to encourage citizens to fight the drilling. Buffalo, New York and Pittsburg, Pennsylvania have banned fracking over concerns that the process would contaminate water supplies and possibly pollute the air.
Environmentalists also worry about the chemicals used in fracking and the large amounts of water used in the process.
Shallow fracking in 2007 appeared to be environmentally safe.