Hydraulic Fracturing has revolutionized world oil and gas market. United States have dramatically increased oil and gas production due to the new fracturing technology was introduced, and has become an exporter of natural gas and oil. The effect of the hydraulic fracturing can be viewed in two perspectives: through a classic supply and demand theory and through the current situation in the international oil market. The results can be quite different. According to the classical theory, fracturing has increased the production of oil. Increased supply inevitably leads to price decrease. Furthermore, fracturing has decreased the cost of oil extraction, ...
Deficits Case Studies Samples For Students
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