Market Currents

The Obama administration announces tightened rules on fracking, requiring the disclosure of...

Friday, May 4, 2012, 11:56 AM ET
The Obama administration announces tightened rules on fracking, requiring the disclosure of chemicals used in the process when done on federal lands - opposed by the oil and gas industry - but not requiring disclosure until work is completed - which angers environmentalists. The government says the proposal would add ~$11,833 in costs per well in 2013.

Share this Market Current

Short URL:

Track new comments on this story

This news story has 13 comments:

"The government says the proposal would add ~$11,833 in costs per well in 2013." ... that is, before regulations require them to pay for the costs of cleaning up the well sites.

4 May 2012, 11:59 AM Reply Like

OptionManiac Comments (3064)

And they shouldn't clean-up the well sites? We should all clean up after ourselves.

4 May 2012, 12:50 PM Reply Like

Richard Ian Carpenter Comments (23)

I agree that they should clean up after themselves; however, I disagree that government standards are the ones that should be used. Get a private company to monitor water quality levels. If norms or minimums are exceeded, the company cleans up after itself. Having some regulatory arbitrary number that can be set an the whims of one political group or another is useless. It panders to one special interest group or another, nothing more.

4 May 2012, 01:07 PM Reply Like

OptionManiac Comments (3064)

I work for a food company and our internal regulations are tighter than the governments. Recalls are a major headache. CYA. But our product goes right to the consumer, our tight controls help our bottom line.
I wouldn't trust an oil company to police itself, it would be the one to set the bar, and would it use science (expensive) to determine what is clean and not clean? Without regs, a company would not be breaking any law by walking away from a toxic site, and it would save a heck of a lot of money. We have laws because we are human, and humans are running the fracking companies.
Yes, regs are often over the top, but like a lot of things, they are a necessary evil.

4 May 2012, 01:26 PM Reply Like

montanamark Comments (1359)

what is the cost for the millions of tax payer dollars poured down the rat hole of obama contributor/solar sham co s?
global warming is a false religion with profits for the left

4 May 2012, 12:06 PM Reply Like

Zheeeem Comments (155)

Wow. That's pretty lightweight. Report chemicals used in fracking operations on federal land, after the fact.

4 May 2012, 12:19 PM Reply Like

OptionManiac Comments (3064)

Really - if the chemicals are harmless, then why not tell the people what they are? I've lived in upstate NY, water wells are very expensive to dig, and no guarantee of hitting water.

4 May 2012, 12:49 PM Reply Like

Poor Texan Comments (3488)

I thought we weren't drilling on federal lands. Also, if the majority of drilling is on private lands where the rules aren't in effect, doesn't this become campaign window dressing?

4 May 2012, 03:17 PM Reply Like

Zheeeem Comments (155)

Yes, this only applies to federal lands.

4 May 2012, 03:48 PM Reply Like

OptionManiac Comments (3064)

Everyone should have the right to know what chemicals are being pumped in the ground beneath their land. Greedy idiots will sign off and not care what is pumped into the ground. Question is, does government save them from themselves, or save us from their decisions.

4 May 2012, 09:25 PM Reply Like