FRACKING? What is it? (1)


The US oil production has in recent time surged to a 20 year high and the US will soon be exporting shale or ‘fracked’ gas to United Kingdom and possibly other parts of the world. This will definitely lower the price of oil all over the world. What this means to countries like Nigeria whose major oil demand comes from the US is that they will be left with no option than to sell at a give away price. What is fracking? How do we get a ‘fracked’ gas? What are the benefits? what are the economic implications? what are likely environmental impacts? what are the likely implications on oil producing countries like Nigeria? Does the economic gains of fracking outweighs its environmental impacts?

Fracking, or hydraulic fracturing, is the process of extracting natural gas from shale rock layers deep within the earth. Fracking makes it possible to produce…

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