No. It's bad for the environment, and making some fat cats get even richer being the only upside to this form of environmental r@pe. The consequences to many far outweighs the benefits to the few. I am sure ever FOX viewer has been brainwashed how this would be a good thing but it would only be a short term benefit for the rapeublicans and a long term detriment to everyone else.
Yes, if it can be done safely. It can turn old wells that aren't producing into wells that are actively producing, and make the "peak oil" estimates a fiction. If we frack the wells that are potentially productive, America can become energy independent by 2020.