CNBC talking Utica Shale Tonight: Update
Thursday, October 18, 2012
According to the Coshocton Tribune, CNBC’s host of “Mad Money,” Jim Cramer, will be broadcasting live from a steel plant in Canton, Ohio at 6 p.m. The show also re-airs at 11 p.m. tonight.
The broadcast is part of CNBC’s “Invest in America” series.
Cramer, who is famous for his energetic reporting, will be discussing Ohio’s Utica Shale. During the show Cramer will be taking a look at the shales economic impact on Ohio and the nation.
Update:
In the following clip Cramer discusses natural gas development with Chesapeake CEO Aubrey McClendon.
http://video.cnbc.com/gallery/?video=3000123403
Cramer asked McClendon, “Are you telling me that what under here can bring down the price of gas?”
In the future, McClendon speculated that natural gas will power many things we currently power with oil.
He also talked about Ohio jobs, “During the Industrial Revolution, Ohio had more millionaires than any other state-we can, once again, generate that kind of wealth creation,” he said.
Cramer didn’t stop with Chesapeake, however. He also interviewed the President and CEO of American Electric Power, Nick Akins.
http://video.cnbc.com/gallery/?video=3000123408
» Via: Coshocton Tribune › CNBC to talk Utica Shale on today’s shows
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.