Natural Gas Boom

Technological improvements in hydraulic fracturing, or "fracking," have (at least in the short-run)

decreased the cost of extracting natural gas.

In the space below, draw a graph that shows the relevant change in the market for natural gas that results

from the above scenario.

3

You do not have to worry about depicting any long-run consequences. Just

depict what happens in the market as a direct,

immediate

result of the fracking improvements.