Falling Gas Prices Impact US Oil Extraction

With the price of oil now less than $80 a barrel, motorists throughout the United States are benefiting from gas prices below $3 a gallon. However, the decreasing price of gas has a downside for the hydraulic fracturing industry in the United States. North Dakota’s economy is on fire, thanks to developments in technology that allow oil extraction from shale formations deep below the surface. The process to extract that oil, known as hydraulic fracturing, or “fracking,” is the source of...

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