Fracking: The good and the bad
Companies that use hydraulic fracturing to retrieve oil and gas from deep underground are changing the U.S. energy picture. Here's a graphic look at the technology and the risks.
Graphic by Ryan Jeffrey Smith for MSN Money
Stocks of companies that use fracking -- the popular term for hydraulic fracturing -- have been hot because the technique has resulted in huge gains in U.S. oil and gas production in just the last few years.
But just as hot has been the criticism. Many people see fracking as a threat to underground water supplies, as well as to rivers and streams and air quality above ground. Here's a graphic look at how it works, and the controversy.
Well I'm just hoping to make it through a couple more days anyway....Just to see who or what will make the next doomsday prediction...
It has been a challenging week.
They only thing that I still don't completely understand is the need to use chemicals...
Is that to set off minor explosions??... Please enlighten..
Because I don't think from 2 miles away we can push/ pressue anything far enough to cause very many cracks in bedrock that far below the surface.?
And what chemicals are they using, again....???
While the debate about fracking goes on , why do insurance companies refuse to insure property leased to gas companies?
NY state did a study on fracking,they found that leased property is pretty much "verboten" if an energy company has leased it. This economic subject is not spoken about publicly,why not?
It kind of goes with their "secret" actuarial preparation of coastal property and the 'climate change / sea level rise, that's "not happening."
I agree we need to exploit our resources here, I'm not convinced it's very safe for our water supply.
As an aside, I WOULD like to know what Dick Cheney and his oil company buddies, decided in their closed "energy policies" discussion! They certainly received enough exemptions on disclosure,etc.
As for the Keystone pipeline, why won't Canada permit it?
For everyone who believes all the benefits it's supposed to bring,that oil WILL be refined and put on OPEN market. Not just for "us".
Pretty much the same for the natural gas extracted.
Something that wasn't mentioned in this little piece ( at least i didn 't see it) is increased earthquake activity in areas around where fracking is being done. I lived south of Youngstown for a while and when we bought our home we had to buy insurance to protect us from our home falling into an abandonded mine. No choice we had to buy it. It seems there are so many old mines in that area that are not maped the only thing that could be done was force people to have insurance incase thier hose sank into an old shaft/
Now youngstown experienced a multitude of mino quakes while fracking was going on and they stopped when the fracking did after a month or so. The problem I see is fracking in areas like the one we lived in and fracking is going to happen there soon. How many homes will be lost adn maybe even lives lost when fracking causes enough movement in those old mining areas that they begin to collapse ? We moved this summer but three fuel plants are being erected whithin 15 miles of where our home was and mineral rights have been bought up in the last year like dogs fighting over a scap of meat.
This ball is rolling and has gained enough speed that can't be stopped by the average Joe. You will be fighting big money and our honest counterparts in DC. We will systematically destroy yet another valuable and non replaceable resource in the quest of the dollar. When will they ever learn?
This ought to get some laughs!
I once traveled to Ogallala, Neb on business back in 2007 and stopped at a local Mckide's to get a big Mac. I ordered a large coke and the clerk said we only have bottled water. I asked why this was here reply. Our water has become contaminated and we can't sell anything but bottled water. So the water is already bad so how can the keystone pipe line effect it anymore. I laugh every time I see the Dem. on Capitol Hill make remarks about the Ogallala aquifer now. And how the keystone pipeline will harm it, its already polluted.
I have a question, the diagram shows a plume of chemicals floating up, why doesn't the oil and gas flow up? The reason the oil and gas doesn't flow up is because of the overburden from the rest of the rock and formations above. This is why you frac the production zone, so it can produce the oil and gas through the casing.
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These companies won't soar like other plays in the sector, but they make for great income sources.
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