Financial community in a stir over DeGette/Casey anti-frac bill
Bloomberg Host: But there is some legislation, right? There’s legislation that’s pending in the Congress … that’s linked to natural gas, because of this new technology that so many of the natural gas companies have been using. Right? Fracturing? In order to get the natural gas out? What have you been seeing in this vein?
Jason Gammel, Macquarie Securities: Well you’re exactly right. The issue is to bring the regulation of fracing up to the national level versus the state level where it’s always been. It really is a big deal because almost every well that’s been drilled to produce natural gas right now is fractured. There’s been over 1 million wells that have been fractured and there’s never been a single incident of pollution of the water table as a result of that. But it is an issue that has been raised that potentially goes to EPA. It probably means that you are really going to delay the drilling of wells and probably push prices up.”
Click HERE to play.