eNews Channel Africa: Why South Africa Needs to Pursue the Potential of Gas from Fracking

Fracking has altered the global geopolitics of energy – probably for the better. North America is nearly independent of imported oil and is starting to export gas. It is therefore no surprise that the costs, benefits and risks are being hotly debated in South Africa.

Less than five years ago there was talk that the US had hit peak oil. This meant that it would soon be so beholden to the Middle East for oil that the US dollar would plummet in value because the US balance of trade would be so adverse.

As a consequence of oil and gas production from fracking, the US now has almost enough oil to be fully fuel independent. 

Read the full article HERE.