The oil and gas industry is celebrating the 65th birthday of hydraulic fracturing, which has spawned a boom in U.S. energy production despite adverse economic conditions and unfriendly environmental policies.
The industry has a good reason to celebrate fracking on Monday. The drilling technique has unlocked vast reserves of oil and natural gas from underground shale formations and helped rural economies from Pennsylvania to North Dakota and Texas. On top of that, fracking has made the U.S. the world’s largest producer of oil and natural gas.
Americans have long been energy pioneers, from the 1800’s when the first wells were drilled to today. As part of that history, on March 17, 1949, we developed the technology to safely unlock shale and other tight formations, and now the U.S. is the world’s largest producer of oil and natural gas.