Limited frack supply could hamper U.S. crude oil output
DENVER, July 27 (Reuters) — Demand for hydraulic fracturing equipment is quickly outpacing supply, executives said this week, setting the stage for a new obstacle to U.S. oil and gas production growth.
Related Knowledge Center: ENERGY BASICS: fossil fuels
Fossil fuels — coal, oil and natural gas, primarily — remain the dominant energy sources for much of the world, with their accompanying infrastructure of mines, drilling and production wells, pipelines and various forms of transportation. But they have become more problematic as governments struggle to address climate change and pivot to energy sources that do not result in carbon dioxide emissions.
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.