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Should fracking be banned?
Perspective
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Domestic energy production reduces dependence on overseas producers, some of whom may become hostile.
Pros
Cons
Reliance on fossil fuel imports from other states can leave countries vulnerable.
OPEC countries have
historically colluded
to ensure that the global oil supply has remained capped so prices remain high. However production of oil from other sources prevents OPEC from keeping prices too high.
Energy security
is an important geopolitical concern for many countries.
Saudi Arabia is not
fearful
of the US becoming hostile as it has significant enough reserves that the US is not a competitive threat.
Domestic energy production also mitigates the potentially negative effects of fluctuations in oil prices.
Some states, such as England, are unable to produce enough gas from fracking to
impact the price or their dependency on overseas oil
.
Domestic energy production isn't exclusive to fracking.
Dependence on overseas producers offers a market of importers which allows the government to incentivize competition.
Dependence of energy production on overseas producers can stimulate local initiative and innovation to reduce dependency on oil.
