The terms ‘Fracking’ and ‘Eco-friendly’ might not go with each other. But ‘Eco-friendly fracking’ is a term that is becoming a buzzword in the Oil & Gas industry and has the potential to wipe out any environmental concerns that arise during traditional fracking. Whatever the pace of the energy transition, the world will continually rely on oil and natural gas for much of its energy needs. And to extract these elements, fracking is an essential step. However, traditional fracking causes environmental pollution and many other ill effects on the ecosystem. Let us take a sneak-peak into the world of fracking chemicals.
The Rise of Hydraulic Fracking in the US:
The period of 2005 to 2020 proved to be a bucket full of positivity for the oil and gas industry in the United States. The U.S. oil production has leapfrogged significantly, during this period, driven primarily by production from hydraulic fracturing.
A recent report from Department of Energy reports that, in 2005, U.S. crude oil production was 1.9 billion barrels and natural gas production was 18.1 Trillion cubic feet. By 2019, it grew considerably to 4.5 billion barrels and 34.0 Tcf, respectively, which amounted to a 137 percent increase in oil production and an 88 percent increase in natural gas production during that period.
Hydraulic fracking in U.S. crude oil production leapfrogged during 2005-2019 as conventional crude oil production remained stagnant. In 2005, only 8% of U.S. crude oil was developed from wells that underwent fracking. By 2019, the amount grew to more than 63%.