Is fracking good news for the housing sector?
While some may not like the idea of living in an area where fracking is taking place, the boom in the practice could lead to extra housing demand. Fracking is highly divisive with environmental groups opposed to it but energy firms and their investors very much in favour! In the US it has helped the energy sector overtake Saudi Arabia in production of oil and Canada’s fracking industry is gathering pace. In Saskatchewan there has been an uptick in activity. Towns like Kindersley have found that the fracking industry’s need for water has given them a market for the municipality’s treated wastewater. The province is seeing increased population growth over the last few years as fracking has given legacy oilfields a new purpose.