stan8331 (92.49)

Fracking Nonsense

January 03, 2012 – Comments (1) | RELATED TICKERS: FTK , GSFVF.PK

Currently there are many questions about the viability of natural gas as a broadly used transportation fuel.  Fossil fuel opponents are gearing up to paint increased use of hydraulic fracturing - "fracking" - as an environmental catastrophe.  News reports of problems created by fracking are plentiful, including environmentally unsound wastewater disposal, earthquakes and groundwater contamination from inadequately sealed wells.  These are real concerns that must be adequately addressed for fracking to flourish nationwide.  Unfortunately, many opponents are not interested in finding practical solutions.  Their dislike for fossil fuels leads them to ignore the ongoing inexorable catastrophe of global warming, clinging to the delusion that fossil fuels can disappear in the blink of an eye if only we decide to make it happen.

I think the natural gas industry, if they were smart, would be begging for enhanced, coordinated regulation. That's the best way to take the steam out of ideologically extreme fracking opponents and also address critical issues like wastewater disposal that could become very problematic if fracking is ramped up dramatically to support natural gas as a widespread transportation fuel.  Recent reports suggest that wastewater injection - not fracking - may be a source of increased earthquake activity. 

It's possible to use environmentally benign fracking fluids very effectively, and propane gel fracking is a promising emerging technology.  The only thing in favor of using toxic fluids is a marginally lower cost - an advantage that is totally belied by the higher environmental impact.  If we put rules in place that either prohibit the use of toxic fluids altogether or make it extremely expensive to use them, the cost of the proven alternative methods will come down, environmental concerns will be greatly eased and the door could be opened for massive growth of the industry.  Few people in any sector of the political spectrum believe burning fossil fuels is the best source of energy for our extended long-term (100+ year) future.  Natural gas offers us a chance to buy some time in the coming decades while we work on improving and ramping up greener energy technologies.  

Unfortunately, because this would necessarily involve change and could possibly have some impact on short-term profits, the natural gas industry is likely to put up a fierce fight against any new regulations.  Given the disjointed, piecemeal nature of state-by-state regulation, along with the fact that there's really no strong voice to speak up in favor of increased regulation that’s designed to promote rather than stop fracking, it's hard to see it happening any time in the foreseeable future.  Given the gravity of the situation we face with global warming and the need to reduce CO2 emissions right now, that's a tragedy.