ICYMI – IPAA chairman Bruce Vincent, EDF’s Jim Marston Discussed Shale Gas, Fracking on CNBC’s ‘Squawk Box’
Friday, December 18th, 2009 | 0 Comments
WASHINGTON – This morning, Bruce Vincent, chairman of the Independent Petroleum Association of American (IPAA) and president of Houston-based Swift Energy (SFY), and Jim Marston, director of state climate initiatives at the Environmental Defense Fund, discussed the 60-old critical energy production technique known as hydraulic fracturing, which is key to unlocking clean-burning, tightly-packed shale gas miles below the ground on CNBC’s ‘Squawk Box.’ To view this segment on-line, click HERE.
Key excerpts from the segment:
IPAA’s Bruce Vincent
- “Clearly, the natural gas industry can play a significant role as we move towards a better environment for our grandchildren. It can also play a role today in job creation. It can also play a role in energy security for the country.
- Many of these methods, hydraulic fracturing as an example that’s under attack today, have actually been used by the industry for a long, long time. That particular technology has been used for 60 years, and over that period of time there’s not a known case where it’s contaminated fresh water aquifers, yet there continues to be a mischaracterizations that that may have happened.”
- “[Hydraulic fracturing] has been the key technology in unlocking these shale gas resources that many people have heard about. Today, we have a natural gas resource base in America over a 100 years in length. We’re the Saudi Arabia of natural gas in the world. It’s abundant, it’s affordable, it’s reliable, and it’s American.”
- “Because of the [natural gas production] activity there, they create a lot of jobs and economic well-being in those areas.”
On federal regulations:
- “What federal regulation would do would just lay additional burden of regulation that would both cost time and both cost money, but also provide an avenue where other groups, special interest groups, could throw up roadblocks. And if it was important to do, we’d support it. But the states have regulated these efforts for decades, and they have regulated them effectively.”
EDF’s Jim Marston
- “Well I agree with Bruce that some of problems we are seeing…are not related to fracking. … Fracking per se, is not something that we have to fear.”
On federal regulations:
- “We’re hoping that states will step up and really fulfill their responsibility. If so, we may not need federal regulations.”
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