API Study: New EPA Emissions Rules Will Cut Drilling 52%
If proposed new EPA air emissions regulations go into effect later this year as proposed, the number of wells drilled using hydraulic fracturing will drop by half, according to a study commissioned and just released by the American Petroleum Institute (a copy of the study is embedded below). The Obama administration has given lip service support for shale gas drilling, most notably in Obama’s recent State of the Union speech—but the administration’s actions don’t match their words.
According to the study, the new EPA regulations would result in an 11 percent drop in gas production, and a 37 percent drop in domestic oil production. The federal government will also receive $8.5 billion less in royalty payments from reduced drilling.
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Chesapeake Energy is partnering with M3 Midstream and EV Energy Partners to build a new $900 million natural gas processing complex with facilities in Ohio’s Harrison and Columbiana counties by the middle of next year. The facility will be the largest of its kind in eastern Ohio, providing a place for Chesapeake and other drillers to process natural gas and the all-important natural gas liquids. French energy giant Total, a 25 percent joint venture partner with Chesapeake in the Utica Shale, also has an option to participate in the project.
In a measure backed by the anti-drilling Natural Resources Defense Council (NRDC), the New York State Assembly has set aside $100,000 to conduct an “independent” health impact study of hydraulic fracturing in its budget for next fiscal year. The measure was proposed by NY State Assemblywoman Barbara Lifton (Democrat from Ithaca, NY). Lifton is part of an anti-drilling cabal of the NRDC, Park Foundation and others who are desperately trying to prevent hydraulic fracturing from happening in New York State. Chief tactic number one? Slow it down by delays and studies until they can eventually kill it.