gut;1010853 wrote:Was going to post the same thing.
But there are real concerns over fracking contaminating ground water. That I haven't researched and my inclination is the EPA is again being it's typical politicized bull**** but in this case it's not without merit. The tech may not be quite ready for prime time, but that doesn't mean blanket and wholesale blocking of it by the EPA.
Most of the concerns are completely unfounded; fracking has been in use for about 50 years - over 1.2 million wells fracked - without one, single, solitary well having any direct, verfiable connection to any pollution - not one. Unfortunately, the environmental extremists are doing their best to paint a different picture. What's more, despite media reports saying that the water injected for fracking is "chemical-laced" the actual amount of "chemicals" involved is now 1 tenth of 1 percent, thus the reader is once again likely misinformed by the environmental sympathizers.
The bottom line is, this will be a boom of massive proportions. The Northeast is going to actually be a net domestic exporter of natural gas despite being the largest user as well ---- a paradigm shift in energy sourcing. Our shale gas production is already nearing 25% of total production, Henry Hub prices are at 8 year lows, and that has a tremendous flow through effect on all the large industrial manufacturing users who rely on natural gas to power their production.
Many experts are referring to Ohio as the next Saudi Arabia, and the wealth creation is just beginning. Farmers are turning into millionaires over night and re-investing those funds back into new farm equipment and buildings, further providing the spin-off and multiplier effects throughout the economy.
We need to embrace this exceptional new (and safe) technology and ride the wave. But, we have to stand up to the marxists parading as radical environmentalists who wish to shut down our capitalist economy. We either move toward complete energy independence and job creation, or we move toward greater economic instability due to a lack of energy development.