From an article over at Bakken.com asking the question whether fracking was still cost effective:
With growing concerns of climate change and the environmental impact
of drilling operations, governmental policies are continuing to shift
towards encouraging the use of renewable energy. Although such policies
may impact production later on, the market continues to dictate and
encourage oil exploration, even in high-cost areas such as the Arctic.
For now, oil companies have a variety of reasons to justify the cost.
For instance, global demand is continuing to grow, prices may
eventually rise again, and costs of operations will likely decrease as
emerging technologies become more commonplace.
According to Erik Milito, director of Upstream and Industry
Operations for the American Petroleum Institute, “…That’s the reason why
companies are making these investments, because they’re long-term
investments in projects that are expected to provide very large
quantities of oil and natural gas for the U.S. economy and for the
global economy.” In the meantime, U.S. producers are keeping a close
watch on their foreign competitors that are able to produce oil at a
lower price.
There are some interesting points raised. FYI.
