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EnvestorFirst (< 20)

New York Fracks No More



July 21, 2011 – Comments (1) | RELATED TICKERS: UNG

There has been backlash from a number of states who are not so accepting of the method of fracking to extract natural gas. One state that stepped up and is no longer allowing it is New York. Other states have considered it, but New York has made the first move. What exactly does this mean for the natural gas industry in the state? Christopher Helman has put compiled all the necessary information you need.

"The good thing is, the nation doesn’t need New York’s gas; New York doesn’t even need New York’s gas, with plentiful volumes available next door in Pennsylvania.

The plunge in New York gas comes at a time when gas output is booming in the rest of the country. Nationwide, since 2007 shale gas production has soared from 1.3 trillion cubic feet to more than 4 tcf a year. Daily gas output has surged to a record 79 billion cubic feet a day.

New York is in the process of analyzing gas fracking practices with the aim of ensuring that no drilling activity threatens New York City’s watershed. The national gas glut means politicians can go as slow as they need to and even ban drilling in the watershed altogether."

Find additional research here:

1 Comments – Post Your Own

#1) On July 21, 2011 at 5:39 PM, djemonk (< 20) wrote:

If slow politicians and indecision are what is needed right now, New York is the right place.  Never thought THAT would come in handy.

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