It’s nothing short of revolutionary that our industry has recently unlocked more than a 100 years’ worth of natural gas right here in the United States. And at some of the world’s lowest prices – last month natural gas was selling for 40 percent less in the U.S. than in Europe.
Think of the advantages this is already providing – in the form of power generation and fuel for manufacturing and other industries, not to mention the jobs and taxes natural gas production creates.
But there are concerns that political overreaction to a small number of isolated environmental issues could jeopardize this emerging industry and the benefits it provides.
Government policies did not cause the shale gas revolution in this country – but they could stop it in its tracks.
Policymakers need to look carefully at the facts and avoid a bias against natural gas and fossil fuel development in favor of far more costly energy sources that are already receiving massive subsidies.
In fact, we’ve already spent more on alternative energy subsidies than we did on the Manhattan and Apollo projects combined. And what do we have to show for it? Unreliable and uneconomic energy sources that still can’t compete – even at today’s prices.
On the other hand, natural gas is affordable, available – and doesn’t need taxpayer subsidies.
The technologies and industrial processes involved in developing shale gas are proven – the industry has successfully fracked more than a million wells over the last 60 years. There are thousands of feet of rock between the natural gas deposit where the fracking takes place and the water table.
Risk to water supplies and air quality can be and are being mitigated by using proper well design, operating with care and following industry best practices and procedures that are all subject to regulation and government oversight.
When these technologies are applied properly and the industry remains focused on operational integrity, we can protect our environment and public health and enjoy this unprecedented economic advantage.
Read it here.The advantages of natural gas production are many, especially when compared to oil and alternative energy sources. It would be a terrible mistake to block domestic exploitation of this immensely valuable energy resource.