Description

Hydraulic Fracturing (Fracking) has revolutionized the oil and gas industry in the United States. Oil and gas supplies in the U. S. have changed from a market dominated by imported oil at prices of about $150/barrel in 2008, to a market that after a brief COVID-induced price collapse in the Spring 2020, has rebounded in 2021 due to recovering domestic production at prices of about $62/barrel. Changes have been especially striking in Texas, where at its peak, the Eagle Ford Shale south of San Antonio produced more than 190,000 jobs and $80 billion in economic activity for the local economy. We will discuss the technology involved in fracking, as well as some of the social and environmental challenges.