Hydraulic fracturing, popularly known as fracking, has constantly been a topic of heated debate. While advocates believe it is a safe and economical source of clean energy, critics argue that fracking can destroy drinking water supplies, contribute to greenhouse gases that increase global warming, trigger earthquakes, and pollute the air. While the technology was initially used in the 1940s, it became widely popular in the 1990s. Over the last decade, fracking has played a significant role in the rise of the U.S. shale oil and gas drilling production. The technique has allowed the U.S. shale producers to increase the production of America’s crude oil, natural gas, and natural gas liquids, making the country the world’s largest producer of oil and natural gas, stepping ahead of Russia and Saudi Arabia.
The end target is to end the dependency on fossil fuels altogether. The boom in fracking over the last decade is one of the few ways for the U.S. to end the high dependence on imported oil. This can help save billions of dollars and also create multiple new jobs in the country. The fracking boom has also significantly helped organizations that manufacture drilling equipment to grow. The current political situation has put a cloud of doubt over the hydraulic fracturing industry. With democratic leaders vowing to ban fracking altogether, the industry is under significant pressure. Any restrictions on the sector would result in a substantial increase in oil prices in the U.S., damage to the economy, and leave a big dent in the country’s energy security.
As the hydraulic fracturing industry continues to experience rapid transformations, we have compiled a list of the most promising companies in the industry to help our readers identify the most suitable solution provider for their fracking needs. We present to you Energy Tech Review’s ‘Top 10 Hydraulic Fracturing Solution Providers-2020.’
