Oil prices have hit historical lows, even with all of the current tension in the Middle East.
Did you know that the natural average for gas is just $1.99 per gallon? That is the cheapest gas has been since 2009! The Great Recession hit back in 2007, and high gas prices were largely responsible for people losing their jobs and much of the economic unrest. This is just one example of how tensions in the Middle East can affect our gas prices, as well as our economy as a whole. However, even with all of the tension currently in the Middle East, we are still seeing low gas prices, and much of our thanks is due to fracking.
Fracking reduces our reliance on foreign oil.
Hydraulic fracturing has helped the United States to become the world’s fastest growing and largest producer of oil and natural gas. This has helped us reduce our dependence on foreign oil, which gives us a lot more stability, even with an increasingly unstable Middle East. With all of the tension and unease overseas, fracking has given us a reliable source of oil and natural gas, which has driven oil prices down worldwide. In fact, according to the Energy Information Administration, energy prices have dropped an astounding 41% last year because of fracking.
Low gas prices are just one of the many ways that fracking has helped our economy, and Well Water Solutions provides water storage tanks and other innovative solutions in the United States and Canada to make fracking safer, more affordable and more environmentally friendly. Visit us online now to learn more.