21 September 2012 ~ 0 Comments

The Costs of Fracking-The True Price Tag of Dirty Energy

Environment America Research & Policy Center released their report, The Costs of Fracking, to inform the public about the millions of dollars of health costs related to everything from air pollution to ruined roads to contaminated property.

“Fracking’s environmental damage is bad enough, but it turns out that this dirty drilling imposes heavy dollar and cents costs as well,” said John Rumpler, senior attorney for Environment America Research & Policy Center and a co-author of the report. “And in many cases, the public will be left holding the bag for those costs.” Full article…

Quotes from The Costs of Fracking Report

“Finally, farmers engaged in organic agriculture have raised concerns that fracking could make it more difficult for them to sell their products to health-conscious consumers. One New York City food coop, for example, has already stated that they may stop purchasing agricultural products from New York state farms in areas where fracking takes place.”

Inadequate financial assurance. The boom-bust cycle typical of the oil and gas industry means that many firms (or their subcontractors) may be unable or unwilling to fulfill their financial obligations to properly plug wells, reclaim land, remediate environmental problems, and compensate those harmed by their activities. State bonding requirements are intended to protect the public by ensuring that financial resources exist to cover the cost of well plugging and reclamation, but the amounts of those bonds are generally too low to pay for proper well closure, and state laws generally do not require drillers to obtain bonds to cover the cost of off-site environmental remediation or compensation to victims.”

Click here to download The Costs of Fracking Report.

WATCH Study: Residents Left To Pick Up Long-Term Cost Of Fracking

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