Fracking, The Splitting Decision An Analysis - 1726 Words

Fracking, The Splitting Decision: An Analysis of the Advantages and Disadvantages of Fracking Abstract Fracking, or hydraulic fracturing, is the process of drilling into the Earth and subsequently directly a high-pressure water, sand, and chemical mixture at shale rock to release the gas inside, out through the head of the well. Fracking allows firms to access previously inaccessible resources of oil and gas buried underneath the earth and hidden in the rocks. In the U.S., fracking has boosted oil production and has caused a drop in gas prices. The gas that generates electricity produces only half the carbon dioxide emissions coal produces. Fracking of shale gas contributes significantly to energy needs and gas security. The positive economic impact of fracking produces thousands of jobs needed to perform such a task. The use of fracking has brought on many environmental concerns in exchange for its revolutionary impact on the energy industry. There is a significant amount of water necessary in the process of fracking resulting in a heavy toll to the environment. Carcinogenic chemicals involved in fracking could may well escape and contaminate the groundwater around the site, which could be due to lack of diligence rather than an inherent risk. There are increased concerns that the fracking process are linked to earth tremors. Fracking increases our reliance on fossil fuels, rather than investing in renewable energy, which is a better long-term alternative. NaturalShow MoreRelatedConoco Phillips Strategic Management4842 Words   |  20 PagesComprehensive Analysis and Recommendation Report Submittal Date: May 3rd, 2013. Table of Contents 1.Executive Summary............................................................................................3 2.History / Origins.†¦..............................................................................................4 3.Company Split-2012...........................................................................................6 4.Porters Five Forces........................