Economist says natural gas is vital for country’s energy security
Saturday, December 13, 2014
Many groups will benefit from the natural gas boom according to John Felmy, chief economist for the American Petroleum Institute, reports LeHigh Valley Business.
Felmy believes that the natural gas boom that is occurring in Pennsylvania, as well as across the nation, will create energy security and jobs.
Stimulating the economy is another effect that the shale boom has already had on the U.S. Businesses like hotels, restaurants and construction companies remain busy and landowners receive royalty payments, but the natural gas industry still receives opposition, especially because of fracking.
In response to this opposition, Felmy argues that if the natural resources stored in shale can’t be accessed, then the country cannot benefit from it.
Via: LeHigh Valley Business > Economist says natural-gas growth is critical to energy security
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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.