The present invention is a cryogenic subterranean fracturing fluid, comprising a liquefied industrial gas and a viscosity increasing additive. The liquefied industrial gas may be liquefied carbon dioxide, liquefied nitrogen, or a blend of the two. The liquefied industrial gas mixture should be substantially free of water. In this context, substantially free of water means less than 10% water by volume, or preferably less than 5% water by volume. In addition to the viscosity increasing additive, a proppant may be added to the fracturing fluid. In addition to the viscosity increasing additive and/or proppant additional additives may be added to the liquefied industrial gas as required.