NY Comptroller Bullies Cabot O&G over Frack Fluid Disclosure
Being the sole person in charge of a pot of investments worth $150 billion is an awesome responsibility—and invests that person with an enormous amount of power. Power which can (and is) abused. New York State Comptroller Thomas P. DiNapoli is the sole person in charge of the New York State Common Retirement Fund and he regularly throws his weight around with the companies the fund invests in to strong-arm them into doing things they typically don’t want to do. Call it bullying (because that’s what it is).
The latest example: DiNapoli, himself an anti-driller, is crowing that he forced Cabot Oil & Gas, one of the companies the Fund invests in ($35.8 million), to “publicly disclose its policy and procedures for eliminating or minimizing the use of toxic substances in its hydraulic fracturing fluids.” Never mind that Cabot already lists the components of its fracking fluids in the FracFocus.org Chemical Disclosure Registry. Let’s not let facts get in the way of a good PR campaign.
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Pennsylvania is doubling their natural gas output every year by using fracking. So is West Virginia. Ohio has now joined the fracking club and is ramping up their natural gas production. All of the states in the northeast “neighborhood” are fracking—without water contamination, without pollution problems, without a negative impact on “public health,” et cetera et cetera. All except New York, which continues to dither over its decision to frack. Why? Politics. Not science, not health concerns. Politics.
If you live anywhere in the vicinity of either Binghamton, NY or Albany, NY, the Joint Landowners Coalition of New York (JLCNY) is hosting a free screening of Phelim McAleer’s new documentary FrackNation this weekend. Phelim himself will be there!
Last week MDN told you we noticed references that Denver-based Antero Resources’ plans for the Marcellus Shale in 2013 would be “aggressive” (see