Why Mayor Mike Bloomberg Suddenly Loves Fracking
Last week, New York City Michael Bloomberg “came out” as a supporter of natural gas and hydraulic fracturing (see this MDN story). He’s even committed $6 million of his own money to ensure it happens and is done right in New York and other geographies. Now we know why he’s become an overnight fan of fracking.
On Monday, Mayor Mike released the results of a study commissioned by NYC that looks at the role natural gas already plays for New York (very important), and the critical role it will play in a “sustainable energy” future for NYC once a new law goes into effect banning the use of No. 6 and No. 4 heating oil (eliminated in 2015 and 2030 respectively). A full copy of the study authored by ICF International, titled “Assessment of New York City Natural Gas Market Fundamentals and Life Cycle Fuel Emissions,” is embedded below.
Among the eye-popping conclusions in the study: Shale gas produced in the Marcellus and Utica Shale region right now makes up 30% of the gas flowing to NYC. By 2025, that number will be 80%.