Frack!
Despite environmentalists complaining about hydraulic fracturing, otherwise known as fracking, the production tool has been outstanding for the market, the economy, and even the environment.
Using data from the Energy Information Administration (EIA), the American Enterprise Institute (AEI) created a chart to highlight natural gas output and prices from 1995 to 2016. Suffice to say, the post-frack world is a lot better than the pre-frack world.
Here is the chart:
And here is a little note from economist Mark Perry:
“So if you’re heating your home with the cheapest natural gas since the late 1990s and feeling comfortable and toasty during the frigid cold weather, you can thank the revolutionary technologies of fracking and horizontal drilling that made your natural gas so abundant and affordable.”
Horray for fracking!
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