Fracking is going global.
The U.S. energy industry clearly still leads the way on the revolutionary drilling method that has upended global energy markets, but the rest of the world is beginning to catch up as nations seek to replicate American success in oil and natural gas development.
Taking the lead in Europe, Poland plans to begin producing shale gas using hydraulic fracturing, commonly known as fracking, as soon as next year, the country’s treasury minister said recently. More than 100 exploration concessions to more than two dozen companies have been awarded, and the Polish State Geological Institute estimates that the country’s shale gas deposits may secure domestic production for at least 25 years. Britain has lifted a moratorium on fracking that was imposed after a previous operation was blamed for sparking an earth tremor.
Argentina, the largest producer of natural gas in South America, is eyeing the practice on a significant scale to better exploit its supply.
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