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58% of shale execs said they would increase spending, and 34% said they would increase investment. Firms are feeling optimistic that Trump will boost the industry, even as oil prices have sagged.
In December 2011, America's Natural Gas Association (ANGA) estimated that lower gas prices will add an additional $926 of disposable household income annually between 2012 and 2015, and that the amount could increase to $2,000 by 2035. [77] Over $276 billion is going to be invested in the US Petrochemical industry and most of it in Texas. [78]
In the U.S., the widespread application of advanced drilling technologies such as horizontal drilling and hydraulic fracturing has sparked a domestic oil and gas boom whose reverberations are ...
A 2013 review focusing on Marcellus shale gas hydraulic fracturing and the New York City water supply stated, "Although potential benefits of Marcellus natural gas exploitation are large for transition to a clean energy economy, at present the regulatory framework in New York State is inadequate to prevent potentially irreversible threats to ...
Environmental Protection Agency illustration of the water cycle of hydraulic fracturing. Fracking in the United States began in 1949. [1] According to the Department of Energy (DOE), by 2013 at least two million oil and gas wells in the US had been hydraulically fractured, and that of new wells being drilled, up to 95% are hydraulically fractured.
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China completed its first horizontal shale gas well in 2011 and 200 by 2014. [17] A global shale gas study by the US Energy Information Administration said China's technically recoverable shale gas reserves were almost 50% higher than those of the number two nation, the United States. [18]
"The natural gas revolution in the U.S., driven by industry innovation, is enabling U.S. chemical manufacturers such as ExxonMobil to invest in North America, create thousands of U.S. jobs and ...