By Alex DeSantisBloomberg, August 16, 2021Bloomberg/Business InsiderBloomberg/GettyThe boom in hydraulic fracturing and related extraction technology is coming to a close, and the U.S. is no longer the only nation to have experienced its own boom.
In fact, as Bloomberg notes, “the U.K. and Germany have seen similar energy-producing developments as fracking has peaked, while France and the Netherlands have seen their output fall.
The fracking boom is now ending in the United States, but not for a few reasons.
As Bloomberg points out, “the U-S.
has not been the first country to see its oil and gas production fall.
In 2014, a new fracking boom ended, but then resumed, leading to a rebound in oil and natural gas production in 2016 and 2017.
That has left the U-20 index for the energy sector down more than 3 percent since the beginning of the year.
” But now the U.-20 index is up more than 4 percent since January 1, 2017, as oil and oil-related exports surged.
Meanwhile, global economic conditions have not been quite as rosy for energy-intensive sectors.
While China has been hit hard by a glut of cheap oil, energy-related growth is still well below the historical norm.
For example, oil-sands production has fallen by 9 percent in 2017 and by a whopping 41 percent in 2018.
And even the U of A’s energy sector is now showing signs of slowing down.
According to the National Centre for Atmospheric Research, the global crude oil consumption has fallen for the first time since 2007.
So while the fracking boom may be ending, energy production is not.
In the U, the fracking industry is still expanding, even as it is losing out to other countries for natural gas and other oil.
Here’s what that means for the rest of the world.
The U. S. is a nation with abundant resources, and it is already producing plenty of oil.
In 2020, for example, the U