A couple of days ago, the New York State Senate approved a bill that would temporarily place a moratorium on natural gas exploration (using hydraulic fracturing with horizontal drilling) until a safety and environmental review is completed, and new guidelines for drilling permits are issued.
Critics of hydraulic fracturing in the region claim the “fracking” process poses threats to critical water supplies that provide drinking water for millions of New York residents.
(You can see some pretty powerful video footage of the potential damage here.)
However, the Independent Oil and Gas Association of New York has stated that the moratorium will delay jobs and tax revenue the state would attract with more drilling.
The association's executive director, Brad Gill said, “We have companies that want to come to New York, but in this regulatory and legislative climate and instability they’re going to Pennsylvania. We’re just losing out on this economic opportunity.”
It'll be interesting to see how this one plays out. The concerns of local citizens over the safety of their drinking water are up against the loss of jobs and tax revenue that these hydraulic fracturing operations can supply.
What are your thoughts?
Do you think the New York State Senate's moratorium could effectively kill off much-needed jobs in the region?
Or do you think the Senate is right in siding with residents who want the drilling stopped in an effort to protect their water supplies?
Jeff
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obviously fracking can be done properly, just like off-shore drilling, or improperly with a disregard for safety as in the BP off shore drilling catastrophe. If appropriate oversight is provided and the engineering skills are available and heeded, then fracking can be successful.