Fracking cost money. Arab oil is cheap. Some places in our desert you practically just have to shove a straw into the sand and you have a gusher! Ops did I say our desert? Why deplete our supply of expensive oil, when we can burn theirs much cheaper.
Fracking is cheaper than moving a super tanker across open oceans....... that's why they do it.
Depends on the price. Fracking has slowed to a trickle.
Not in North Dakota
Now, Continental and others have stopped fracking altogether in North Dakota. Statewide, there are only eight crews fracking new wells for the few companies still willing to pay for the service. Two years ago, there were 45, a peak for the teams that pump water, sand and chemicals deep underground to extract oil and natural gas.
"This boom, it's over, at least it feels that way," said Mark Ohl, who lost his job on a drilling rig after Continental canceled its contract. "But if you don't know the oil industry is cyclical, you're an idiot."
In North Dakota's oil patch, a humbling comedown