Energy Consulting News
The BUE news and events page will keep you updated on industry news and upcoming events.
Hydraulic Fracturing, or fracking, has been a highly controversial method for extracting natural gas from the earth. Many environmental groups are fighting for fracking to be banned claiming the process pollutes the water supply and the overall environment, while the drilling companies claim the process is safe and necessary to retrieve the abundant natural gas supply in shale rock. It is unclear which group will have the ultimate victory but environmentalists have made a large stride on Wednesday (5-16-12) when Vermont became the first state to ban fracking. Some say it was an easier decision for Vermont because they are not known to have significant oil and gas reserves, while others argue they should have done more research before instating the ban. Regardless, the decision has been made.
Will this just be the beginning? It is expected that other states will follow suit. If a key state, like New York or Pennsylvania, issues a ban the market will react. Add this to the EPA regulations on electric generation plants, high coal to natural gas switching and natural gas exporting and a perfect storm is created.