More from Doug Sweeney

Public comment period extended for federal fracking rules

By Doug Sweeney,  June 25, 2012, 10:44:07 AM EDT

President Barack Obama's administration is extending the public comment period on its proposed rules for hydraulic fracturing on public land by 60 days.

Citizens will have an additional two months to comment on the fracking rules, which were unveiled in May. Although the rules only apply to federal land - where Baird Equity Research estimates about 25 percent of fracked wells are located - many view them as potential guidelines for more all-encompassing regulations in the future.

According to The Wall Street Journal , a copy of the draft rules included provisions that would have tweaked guidelines for well construction and wastewater disposal. Water disposal is a major concern for the industry as fracking involves millions of gallons of water mixed with chemicals and sand pumped underground to fracture shale rock, releasing gas . When this water returns to the surface, it obviously needs to be disposed of.

The rules also would require operators to disclose what chemicals they use in their fracking solution but only after they have put them in the earth. This has drawn the ire of some environmental leaning groups, such as the The Natural Resources Defense Council.

The public will now have some extra time to voice their support for or complaints about the proposed regulations.

"To ensure that the public and key stakeholders, including industry and public health groups, are able to provide important feedback that will help inform any final rule, Interior has decided to extend the public comment period for our commonsense draft rule," the Interior Department said in a statement.

An official with the department told Reuters that even with the extension of the comment period - which will now stretch into July - the rules are expected to be finalized later this year.

Fracking has become something of a polarizing issue over the past decade. Proponents of the natural gas extraction technique point to the fact that it has allowed the U.S. to become the world's largest producer of the hydrocarbon, despite only have the fifth highest reserves of the resource. Further, they say that increased natural gas production will lessen the nation's dependence on foreign energy sources, most notably oil from the Middle East.

Opponents of fracking claim that it can cause groundwater to be contaminated and that it can cause earthquakes. The second of these claims was recently backed up by a report from the National Research Council, which linked fracking with very minor earthquakes in Oklahoma and England.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: News Headlines, Business, Commodities

Referenced Stocks:



Latest News Video



From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%