Bloomberg Donates $6 Million to Develop Safer Fracking
New York's billionaire businessman mayor is getting into fracking in a very big way. He is donating money to his foundation to develop safer ways to frac. That's not only to promote fracking, it's research money on safer operations. These men have a lot of respect and could make a big difference in the public debate.
Bloomberg and George Mitchell (called the Father of Fracking) wrote an op-ed last week for the Washington Post about this new project. I've put both links below as this could be an important game changer for natural gas.
http://www.washingtonpost.com/opinions/fracking-is-too-important-to...
http://www.theepochtimes.com/n2/united-states/bloomberg-donates-6-m...
NEW YORK—The fate of hydraulic fracturing or fracking, in New York state has yet to be decided, but the controversial method for extracting natural gas has a new supporter—Mayor Michael Bloomberg.
Bloomberg Philanthropies, which is supported by the mayor both through his Bloomberg Family Foundation and his personal money, awarded a three-year, $6 million grant to the Environmental Defense Fund (EDF) Friday. The grant will be used to work on ways to minimize the environmental impacts of fracking—the process of fracturing shale rock with chemicals and water to release natural gas from below ground.
“Here’s the truth on natural gas. The environmentalists who oppose all fracking are wrong, and the drillers who claim that regulation will kill the industry are wrong,” Bloomberg said in a statement. “What we need to do is make sure that the gas is extracted carefully and in the right places, and that has to be done through strong, responsible regulation.”
EDF, a nonprofit organization that works to create solutions to environmental problems, has listed several suggestions to help with responsible regulation.
First, EDF suggested mandatory disclosure of the chemicals used in fracking, although EDF did not make clear if this would include chemicals that the companies label “trade secret” chemicals, which have been excluded from regulation thus far.
The EDF is also pushing for modernized rules for well construction and operation to prevent leaking methane into the air and contaminating groundwater with the chemicals used in the fracking process, among the two biggest concerns for anti-fracking advocates.
The EDF would like to bring tough state and national air quality standards to fracking, as well as stronger state regulations for properly handling waste.
“It is crucial for industry, regulators and the environmental community to work together to make sure every molecule of natural gas is produced as safely and responsibly as possible,” EDF President Fred Krupp said in a statement. “Unfortunately, the industry’s response too often has been to argue that hydraulic fracturing can’t possibly cause any problems. That kind of denial erodes public trust.”
To coincide with the donation, Bloomberg co-penned an opinion piece in Friday’s Washington Post with George P. Mitchell, who pioneered hydraulic fracturing technologies. The article pointed out the benefits of fracking.
The editorial said fracking would be good for consumers by helping reduce energy costs and could also spur economic growth through industrial jobs. On the environmental front, the piece argued fracking would reduce U.S. dependence on coal, and thereby improve air quality.
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Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on -
Too moderate and fact based. It'll never work. LOL! Just kiddin', HANG. May Messrs. Bloomberg and Mitchell succeed in their efforts to start a rational discussion on fracing that can lead to a comprehensive national energy policy. Nat gas really does fit well with renewables. And political coalitions from both sides of the isle will be required to move us off of coal in a reasonable time frame. Good article!
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Permalink Reply by Hopeful About Natural Gas on
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"Too moderate and fact based. It'll never work."
Skip, actually, that was my first thought!! Both the industry and the enviros have been slow to see the 40 yard lines where the vast middle of America is. There are numerous issues that the public is in the middle of but the debate is dominated by the exteme sides who yell the loudest and get media coverage.
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Permalink Reply by Dats Oil Brother on
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I am an investor in exploration companies and companies that provide various fracking services. So, I say this while ignoring the old saying: "Don't bite the hand that feeds you."
I am glad we have the more radical anti-fracking groups. It's not whether they are exactly correct or not. It's the fact that they bring to light legitimate issues about the process and it's impact on the environment . Mr Bloomberg is right. The answers to the fracking debate lie somewhere in the middle. But, it's bothersome to me that his foundation feels the need to donate money to an industry that spends their money trying to convince the public that fracking is already safe enough and the true answer to energy independence.
The industry general position is... The need for oil trumps everything else.......is both wrong and disgraceful. The money they spend to lobby their positions and buy off the crooks in Washington to pass laws should be spent on ensuring that the fracking process is as safe as it can be. But instead, we have foundations who feel the need to step up on behalf of the people while the industry proclaims the usual BS.
I'm optimistic about the outcome regarding fracking. The issues will be resolved. But there ARE issues. Too bad it has to be addressed by foundations and not the industry that makes the money from it.
May the fumes be with us.
DOB
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Permalink Reply by Skip Peel - Mineral Consultant on
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DOB, I agree that the industry has been negligent in not adopting best practices for fracing and doing an exceedingly poor job in public relations. The radical anti-fracing groups however foster misinformation that inhibits the rightful debate. I agree with developing less toxic alternatives to frac fluid additives for increased safety in point source pollution (surface spills) and casing integrity instances. Unfortunately we can't seem to have that debate because an irrational fear of aquifer contamination from fracing deep underground has been fostered by those with an agenda or an irrational fear driven by a complete lack of the facts. Fracing many thousands of feet below aquifers is not a serious concern for anyone who understands the rudiments of geology.
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You are right Skip. With radical positions come irrational fear, misunderstanding and the stifling of productive debate. The best way to combat this is to be up front with the issues and solutions. The industry chose to not go that route but to proclaim the wonders of fracking. The best way to make radical positions moot is to be pro-active ,anticipate the concerns and address them. The reason we have this subject......Bloomberg donation....is because the industry chose to get on their high horse with politicians in their pocket instead of being honest about the REAL issues that surround the fracking process.
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Permalink Reply by dbob on
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Not to add fuel to the fire, but this came from Sean Lennon, Yoko and John Lennon's kid:
http://www.nytimes.com/2012/08/28/opinion/sean-lennon-destroying-pr...
"Though my father died when I was 5, I have always felt lucky to live on land he loved dearly; land in an area that is now on the verge of being destroyed. When the gas companies showed up in our backyard, I felt I needed to do some research. I looked into Pennsylvania, where hundreds of families have been left with ruined drinking water, toxic fumes in the air, industrialized landscapes, thousands of trucks and new roads crosshatching the wilderness, and a devastating and irreversible decline in property value."
It gets even better :) I'd love on opporunity to talke with the guy, but I have no doubt common sense would go out the window.
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Permalink Reply by Bobi Carr ("parker") on
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Maybe they can study fracking with Big Gulps.
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