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Economics of Fracking

This video discusses the economics of fracking. Hydraulic fracturing, aka fracking, has unlocked vast reserves of natural gas. This has caused the supply curve for natural gas to shift to the right, thereby decreasing the price of natural gas relative to other fuels such as coal in the United States. Because natural gas is a substitute for coal (both can be used to heat people's homes), the lower relative price of natural gas means that the demand for coal has shifted to the left. This has result in a decrease in the relative price of coal and a decrease in the equilibrium quantity of coal. This explains why a number of coal companies have gone bankrupt. — Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education accessible to all people. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS & OTHER FREE GUIDES http://eepurl.com/dIaa5z — MICHAEL’S STORY https://www.edspira.com/about/ — LISTEN TO THE SCHEME PODCAST Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/4WaNTqV... Website: https://www.edspira.com/podcast-2/ — CONNECT WITH EDSPIRA Website: https://www.edspira.com Instagram:   / edspiradotcom   LinkedIn:   / edspira   Facebook:   / edspira   Reddit:   / edspira   *TikTok:   / edspira   — CONNECT WITH MICHAEL LinkedIn:   / prof-michael-mclaughlin   Twitter:   / prof_mclaughlin   Instagram:   / prof_mclaughlin   Snapchat:   / prof_mclaughlin   *TikTok:   / prof_mclaughlin   — HIRE MCLAUGHLIN CPA Website: http://www.MichaelMcLaughlin.com/hire-me