Hydraulic Fracturing an “Amazing Technology,” Responsible for Unlocking Job-Creating American Energy
Monday, December 14th, 2009 | 1 Comment
This morning, on CNBC’s Squawk Box, six-term Wisconsin Congressman Paul Ryan, a senior member of the powerful House Ways & Means Committee and the top Republican on the Budget Committee, had plenty to say about the extraordinary contribution that technologies such as hydraulic fracturing continue to make toward America’s energy future:
“[Hydraulic fracturing] is amazing technology. And it has opened up, you know, more than 100 years worth of natural gas reserves in this country.
“I think that controversy [about fracturing] is very overblown. And I think there are right kinds of safeguards you can put on fracturing so that it is safe and secure. It is way below the water tables.”
Congressman Ryan is widely-considered a whiz on taxes, entitlement programs and trade issues — but he also understands full-well how safe, heavily-regulated and critical hydraulic fracturing and horizontal drilling technologies are to our nation’s long-term energy security.
And while unemployment remains at the previously unthinkable level of 10 percent, responsible domestic shale gas production continues to generate economic activity and growth and the creation of tens of thousands of good-paying jobs throughout the country.
Don Briggs, president of the Louisiana Oil and Gas Association (LOGA), writes this in a Daily Advertiser column entitled “Haynesville Shale: the bright spot in 2009” today:
“In 2008, investment in the Haynesville Shale resulted in the direct creation of more than 430 high-paying jobs. In addition, state and local tax revenues also skyrocketed by at least $153 million. We can most certainly expect an exponentially larger number of jobs created, higher tax revenues, and increased royalty payments in the future.”
“Don’t squander energy opportunity” is the title of Bernard Weinstein’s Houston Chronicle Sunday column. Weinstein, an Southern Methodist University businesses school director, writes this in his column focused on hydraulic fracturing, which also appeared in The News-Star:
“In recent months, concerns about the environmental impacts of hydraulic fracturing have been raised both in the Barnett Shale and the newer gas plays in Louisiana and the Northeast. In particular, some environmental groups are claiming that the chemicals used in fracturing are contaminating local water supplies. In fact, New York State has imposed a moratorium on gas drilling anywhere in the New York City watershed.
“Hydraulic fracturing has been used in nearly 1 million wells across the United States. Nonetheless, careful studies by the Environmental Protection Agency and the Ground Water Protection Council haven’t revealed a single case of drinking water contamination from shale gas drilling. That’s because the fracturing occurs far below the location of drinking water, and the gas wells are encased in steel and concrete to ensure isolation from ground water.
“Huge economic and national security benefits that can be realized by fully developing our domestic natural gas resources. Let’s not squander this unique opportunity.”
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Pretty interesting post. Couldn’t of written any better. Browsing this post reminds me of my old bud. He always kept speaking about this. I will send this post to him. Pretty sure he will have a good read. Thanks for sharing!