The problem with fracking is production drops off rapidly after a few years of pumping.
Yes, but there are ways to move the head that can access additional reserves in the ground in the same area. It is the free market - find a big enough reserve that is economical to access and go for it. Find the wrong reserve for the method used or one that is too small and it is not economically viable. In that sense, it is not different than traditional drilling.
This decision by the prior administration had little to do with the methodology or risks - it was part of the “green energy” movement tied to the eco-fascism of the left.
This is a great ruling that will sustain jobs, create some news jobs and wealth, and perhaps most importantly it illustrates to the energy market that Trump is very serious about his pledges.
Now we MUST demand the phasing out of ethanol subsidies. The ethanol program is a prime example of bad governance. It is a failed welfare program that has increased the cost we pay at the pump and the mechanic.
We’ll see if anyone reads this. Truths:
1) Fracking brings up oil. It also brings up water. This is called production water and is contaminated by usually at least salt, but since shale has uranium in it, the water is sometimes lightly radioactive because of sediment in it. Fracking doesn’t cause quakes. But that water has to be disposed of. It is usually pumped back down into the ground some distance away at great force to get rid of it. THAT is what causes quakes.
2) The water is pumped back down at great force because the oil and water is not an “ocean” or “pond”. It’s rock. The rock has pores and the oil came from pores (as did the water). Some distance away is more rocks and there are pores and maybe the pores aren’t filled. So you fill them and it takes a lot of pressure to do it.
3) There has been no fracking miracle. No yankee knowhow technological leap. The guy himself pointed out fracking has been going on 50-60 yrs. It’s not new. The reason oil flowed was price. When it was $110/barrel with 0% interest rates, they could borrow to frack and cover the enormous costs (it takes **millions** of pounds of sand hauled to the site by truck to frack a single well). When the price was $110, you could cover it. Now, at $48, it’s largely loans that don’t get repaid (because the Fed creates that money from thin air, after all).
4) Yes, the fracking depths are WAY below drinking water aquifers. No risk to that water at all. BUT, the well that goes down there does pass through the aquifer. Having a regulation to be sure some fly by night wildcatter doesn’t use cheap cement to line the hole is not a foolish reg. Stein’s wacko quote about contaiminating drinking water is bullshit, but solid cement regulations is not oppressive and not a stupid thing.