Use access key #2 to skip to page content.

EnvestorFirst (43.08)

BHP: Going Against the Grain

Recs

4

June 09, 2011 – Comments (2) | RELATED TICKERS: BHP

BHP Billiton had been hard a work in Arkansas trying to get in on the Fayetteville Shale play. There has been much discussion about the methods that are used to reach these oil reserves, fracking. Recently, there has been talk of releasing to the public the contents of the chemicals used in this process. Either way, BHP is feeling a backlash from Arkansas farmers. Leonie Wood gives us the whole story.

 

 "…Three sets of Arkansas landowners have launched class actions against BHP and other shale gas producers, alleging water sources, soil and air in their immediate living area have been contaminated by toxic chemicals and gaseous emissions. The landowners claim the poisons are a direct result of oil companies fracturing underground shale formations to extract gas.

The Arkansas class actions, while filed, are still a long way from certification and, ultimately, trial. But they are symptomatic of an increasingly more vocal group of litigants, namely landowners and farmers, whose livelihoods depend on clean environments…"

 

 Read the entire article here: http://www.smh.com.au/business/bhp-must-be-wary-of-how-it-handles-arkansas-farmers-in-shale-oil-quest-20110606-1fp8c.html 

2 Comments – Post Your Own

#1) On June 09, 2011 at 4:04 PM, L0RDZ (84.40) wrote:

Please if there  is a more honorable miner than BHP  ????   or  driller. 

 Perhaps people shouldn't be so quick to sell away their mineral rights.

goodluck to the landowners. perhaps its time to move.

 

Report this comment
#2) On June 10, 2011 at 11:37 AM, EnvestorFirst (43.08) wrote:

I was under the impression that surrounding farmers were seeing the effects, not the farmers who actually sold their land, doesn't seem like they would have much leverage if that was the case.

But you could be right...

Report this comment

Featured Broker Partners


Advertisement