One benefit of getting oil from Saudi Arabia is that it helps their economy (MIrzayev, 2015). This only will continue to help Saudi Arabia as long as gas prices stay high in cost per barrel. On June 19, 2014 a barrel of oil cost $115.06, its highest level for the year. After that, oil prices started to free-fall and as of March 12, 2015 oil was trading around $58 per barrel (Mirzayev, 2015). This can hurt or help the country the oil is being bought from. Most of the imports currently come from five countries: Canada, Saudi Arabia, Mexico, Venezuela and Nigeria (Flintoff, 2012). So as of now the price of oil is hurting Saudi Arabia as far as its economy. …show more content…
Gas bills have dropped $13 billion per year from 2007 to 2013 as a result of increased fracking, which adds up to $200 per year for gas-consuming households (Dews, 2015). Fracking now accounts for 56% of U.S. natural gas production and 48% of oil output, according to the Energy Information Administration. The boom of fracking has helped make America the world's number 1 producer of oil and gas (Unknown, 2015). So with this information we know fracking’s benefits outweigh the