Just put two Great People together. Boom, instant Golden Age.
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We have LNG import facilities that were built just a few years ago. Now, with the relatively low NG production costs compared to those in Europe, some are discussing conversion of those import facilities to export facilities. However, the oil and gas industry is backing off that type of planning due to the realizaton that Europe and China have plenty of frackable resources. Ultimately as fracking technology spreads, a global market become established with more uniform prices for NG, resulting in less incentive to export. |
My only problem with fracking is the pollution of the underground water tables..
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Informed look at the groundwater contamination issue:
http://blogs.scientificamerican.com/...t-the-problem/ The problems are: 1) the oil and gas business is extremely fragmented. There are literally hundreds of mom and pop drilling companies and not all of these are operated responsibly. 2) Therefore, proper installation and inspection of the the well doesn't always occur. This is where the big risk for groundwater contamination exists. 3) regulations vary a great deal from state to state. In some states the regulations are significant with good well inspection programs while in others the situation is much more lax. Resource development is profitable in both environments if the geology is favorable. So if you are worried about groundwater contamination, better well head inspection programs is the key. |
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It is a myth. The fracking takes place well below the water tables and is sealed in with casing. When people are affected it's from inappropriate disposal of wastewater and similar stuff, which creates problems that get blamed on the actual frac site.
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There are a ton of people who are very concerned over that particular problem. In fact, it's possible that improper fracking can reduce our dependency on oil but increase our dependency on clean water (which, of course, is already a bit of an issue). I'm not sure which is better; a full tank of gas, dying of thirst, or breaking out in giant, oozing, boils on the face. FAX |
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