Wall Street Big Money Targets Companies that Frack
Three activist investor groups, all of them anti-drilling, are trying to use the influence of that money to shut down oil and gas drilling. If you have money invested with the members of any of these groups, you should consider removing your money and investing it elsewhere.
The groups are: The North American Investor Network on Climate Risk, the European Institutional Investors Group on Climate Change, and the Australia/New Zealand Investor Group on Climate Change. Collectively they represent over 200 members with total assets under management of $20 trillion.
Their target for now? The discredited concept that oil and gas drilling which uses hydraulic fracturing (just about all oil and gas drilling) leads to an increase in methane in the atmosphere—so called “fugitive emissions.”
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Whoa, wait a minute. The editorial board of the very liberal Albany Times Union is (gasp) in favor of limited fracking in New York State as a test. Really? Really.
It was MDN’s pleasure to attend a screening of the newly released Truthland movie last evening at the Susquehanna Valley High School in Conklin, NY. Truthland is a short film, about 34 minutes in length, that takes as its mission the debunking of Josh Fox’s well-known movie Gasland.
Breaking News: The fight over fracking in New York is about to go very local—down to the township level. The New York Times is reporting that Gov. Andrew Cuomo will soon announce a plan that will allow hydraulic fracturing in a few select counties in New York, most of them along or near the border with Pennsylvania. His plan will limit hydraulic fracturing to only those counties AND townships within those counties that actually want drilling—at least for “the next several years.”
Using Greene County, Pennsylvania as a living laboratory, the U.S. Department of Energy’s National Energy Technology Laboratory (NETL) is testing whether or not faults, or large cracks that sometimes exist through multiple rock layers, can create a pathway for hydraulic fracturing fluids to migrate to aquifers.