In an interesting (some would say hypocritical) twist on New York State’s moratorium against drilling in the Marcellus Shale because of environmental concerns, it seems the state’s comptroller has no problem investing some of the state’s huge $140 billion pension fund in shale gas drilling operations, to the tune of $1 billion:
The federal government just can’t keep itself out of the states’ affairs when it comes to gas drilling. The federal Department of Energy (DOE) has convened a panel of seven experts to create a list of industry “best practices” (which will no doubt become mandates) for how gas drillers should drill in the Marcellus and other shale formations. Immediate steps they identify “to improve the safety and environmental performance of hydraulic fracturing” are due in a report in 90 days. The complete press release from the DOE is included below.
Municipalities in Pennsylvania that ban drilling will not get any share of a coming “impact fee” from Marcellus Shale drilling under a new proposed law by Republican State Senator Joe Scarnati:
Rhonda Reda, executive director of the non-profit group Ohio Oil and Gas Energy Education Program, recently spoke to a small audience at Columbiana High School (Columbiana, Ohio). Reda had some interesting facts and figures to share with the audience. She said that hydraulic fracturing was first used in Ohio to frack a well in 1951. Some of her other comments: