Fahey on Fracking

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by Laura E. Huggins
PERC media fellow and AP energy writer Jonathan Fahey considers the positive side to fracking for oil.
Companies are investing billions of dollars to get at oil deposits scattered across North Dakota, Colorado, Texas and California. By 2015, oil executives and analysts say, the new fields could yield as much as 2 million barrels of oil a day — more than the entire Gulf of Mexico produces now.

This new drilling is expected to raise U.S. production by at least 20 percent over the next five years (see interactive graphic). And within 10 years, it could help reduce oil imports by more than half, advancing a goal that has long eluded policymakers.

"That's a significant contribution to energy security," says Ed Morse, head of commodities research at Credit Suisse.

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Huggins is a research fellow and former director of outreach with PERC as well as a research fellow at the Hoover Institution at Stanford University. Her association with PERC goes back several years, although she has recently embarked on a new venture as the manager of economic initiatives for the American Prairie Reserve. Huggins coauthored...
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