With the current unemployment rate at a low of 7.9%, who wouldn't be excited to hear that any one industry could potentially support 3.5 million jobs by 2035? In our current economic position, statistics like that sound extremely appealing.
According to API President and CEO Jack Gerard, development of the United States' unconventional oil and gas resources could create 2 million new jobs over the next two decades. The energy industry could potentially be the main component in getting our nation back to where it was economically ten years ago. According to another article on America's Natural Gas Alliance, shale gas alone is expected to add 1 million new jobs not only in the field but also in related industries. This news sounds incredible, and I believe is completely attainable if and only if we continue hydraulic fracturing operations throughout America.
A major part of unconventional oil and gas operations is shale gas drilling. When drilling into shale, very little oil and gas will be produced unless the well is hydraulically fractured, "fracced." To make each of the wells profitable when they begin to produce, they must be fracced. Knowing this, it is obvious that the industry will only be profitable and create new jobs if these wells are economically profitable once drilled.
What I am trying to get at in this post is that America needs hydraulic fracturing until there is a new technology developed to get the oil and gas out of the shale. If we slow down or discontinue fraccing operations, as a nation, we will not be able to produce nearly as much domestic oil and gas and will continue relying on other countries more and more.