“ Speaking of the United States, Putin had plenty of words for them as well, accusing the U.S. of ignoring the negative environmental externalities of the nation’s mass-scale shale oil and gas production (fair enough) calling the process “barbaric” and proclaiming that Russia will never use fracking as a means of oil and gas extraction. “We will never frack,” Putin told a representative from Total SA during Moscow’s Russia Calling! conference on Wednesday. “We don’t need to develop shale oil at all. First, we don’t need to increase the supply of oil to world markets, and we have enough oil we can get from the Arctic shelf.” He added, “In spite of all of the economic benefits, we do not need it and we will never do this.”
Putin has a point. There are endless environmental impact studies backing up the fact that fracking does cause extensive environmental damage and even birth defects. As always, there’s more than one side to the story. As CNBC sums up the debate: “Advocates of fracking [...] say it vastly expands natural gas supply — a cleaner fuel than crude oil — and cuts costs for consumers. But, critics of the process have sounded the alarm over its negative environmental impacts, including air and groundwater pollution and increasing earthquake risk.”
From here: < [ca.finance.yahoo.com];
IMO, while we have more land to frack, it is an end of the line process. It would be a good idea to increase working on our renewable energy infrastructure.
|The Power of Siberia||155||Eddie Larry||07-Dec-19 17:51|
|Putin Calls U.S. Shale “Barbaric”||74||Eddie Larry||07-Dec-19 18:07|