Of course fracking will be expanded and help bring fuel cost down if demand remains constant. However, demand in developing countries is growing. The Chinese didn't invest in CHK because they like the weather in OK . I am sure they are "fracking" all the technology they can!!!!!
Fracking takes a lot of water which may limit its use in many areas. It is still not accepted by everyone as a safe practice, so more research will be needed before wide scale acceptance outside the US.
I hope it does and lowers energy costs across the world. How long will it take and will it really have that affect (look at all the oil produced in the US vs the amount you pay at the pump).? To me these are trading ideas so figure out who will benefit and when. If this is what you think, look at companies that provide services to the industry or benefit from lower prices. Investment themes tend to have a finite life span or at least get recycled. Good Luck.
Unlike Natural gas, liquid oil products can me exported and take on a more international price. Natural gas must be converted to LNG and transported but the facilities and regulations must be brought up to speed.