Shale oil and gas extraction has already turned into a huge force in the energy industry worldwide. Currently, its products provide many countries with significant economic benefits. This method involves hydraulic fracturing to extract fossil fuels trapped in shale rock formations. However, this issue has already raised deep environmental concerns that can never be ignored. However, the environmental ramifications of shale extraction cannot be ignored. Consequently, in this post, we will try to discuss the key advantages and drawbacks of shale oil extraction.
Pros and cons of shale oil extraction for the environment
Scientists, environmental organizations, and environmental activists keep on saying that shale oil extraction should be considered a double-edged sword. Even though this method is beneficial for both big companies and individuals, many scientists are sure that shale oil extraction tremendously negatively impacts the environment. Moreover, millions of people around the world don’t want to pay high utility bills, especially those of them who have to take a loan at FCLOANS. Hence, let us analyze the most common benefits and drawbacks of this popular method of extracting natural resources.
Positives of Shale Oil Extraction
- Economic incentive. Through taxes, royalties, and significant infrastructure development, this industry creates new jobs, greatly stimulates economic growth, and generates revenue for both local and national economies.
- Significant energy supply. This method considerably increases the domestic energy supply, which greatly minimizes dependence on foreign sources.
- Transition bridge. As renewable technologies develop, shale oil provides a transitional energy source, which helps reduce reliance on more carbon-intensive fossil fuels.
- Lessened greenhouse gas emissions. As a byproduct of oil extraction, shale gas is righteously considered a cleaner-burning fuel compared to coal. It leads to lower greenhouse gas emissions when it is used for power generation.
- Reduced import of oil. As shale oil production has recently considerably increased in the United States, it boosts national energy independence and mitigates any possible geopolitical risks related to foreign oil.
- Technological advancements. Owing to innovations in drilling and hydraulic fracturing technologies, the overall efficiency of shale oil extractions was greatly improved.
Negatives of Shale Oil Extraction
- Disruption of ecosystems. The extraction process can often disrupt ecosystems. It causes soil degradation and habitat fragmentation. Hence, it is a huge threat to biodiversity, especially in regions with rich ecological variety.
- Air pollution. Shale oil extraction releases pollutants into the air. It especially concerns volatile organic compounds and nitrogen oxides. It completely worsens the air quality. Moreover, proximity to shale oil extraction sites causes stress, respiratory issues, and potential exposure to harmful chemicals, which causes numerous health problems in nearby communities.
- Water contamination. Large volumes of water are used for hydraulic fracturing. It is often mixed with chemicals, which can contaminate groundwater and have a continuing impact on drinking water quality.
- Induced seismicity. Scientists say that the injection of wastewater into disposal wells can significantly provoke seismic activity. It can potentially lead to earthquakes in areas, which are not historically exposed to such risks.
- Resource amount. The process of shale oil extraction requires significant water and land resources. It leads to resource depletion and can seriously change agriculture and municipal water supplies.
- Impact on climate change. Shale gas is considered cleaner than coal. However, such overall life-cycle emissions of shale oil as extraction, production, and combustion lead to irreversible climate change.
- Long-standing environmental legacy. Plenty of abandoned wells and potential leakage of pollutants into the environment cause plenty of long-term problems. Therefore, it requires comprehensive remediation efforts to alleviate any possible environmental damage.
- Regulatory problems. As shale oil extraction keeps on developing rapidly, it becomes incredibly difficult to monitor and implement new environmental laws to protect nature from any potential risks.
The largest shale oil producers in the US
- Chevron Corporation (San Ramon, California)
- Hess Corporation (New York City)
- Marathon Oil Corporation (Houston, Texas)
- ConocoPhillips (Houston, Texas)
- Occidental Petroleum Corporation (The Woodlands, Texas)
- EOG Resources, Inc. (Houston, Texas)
- Apache Corporation (Houston, Texas)
Final words
Now, you see that the environmental impact of shale oil and gas extraction demands careful consideration. Even though this method contributes significantly to energy production, its influence on nature is undeniable. Consequently, special regulatory laws, mitigation measures, and advancements in cleaner technologies must be prioritized to reduce the harmful effects of shale oil extraction.
