Big Oil (and especially Small Oil), you know I often stick up for you, but I suspect you’re crying wolf this time.
Motley Fool seems to know something about the Texas Railroad Commission:
Why am I sympathetic to this legislation? For one, state regulatory bodies can become quite cozy with industries that drive the local economy. Second, while the risk of polluting an aquifer seems remote, given that most horizontal drilling occurs much deeper in the earth, I do recognize that there are some rather nasty chemicals involved here, and they have been and will continue to be spilled on the surface. That poses enough of a threat to drinking water to get me concerned.
According to local media reports, a recent frac job performed by Schlumberger (NYSE: SLB) for Chesapeake Energy (NYSE: CHK) in the Haynesville shale play saw some frac fluid spilled, and 17 cows died.
Legislation is pending that will close the Halliburton Loophole, but we need more support for these bills. Please ask your member of Congress or Senator to co-sponsor these bills.
S. 1215 – Fracturing Responsibility and Awareness of Chemicals (FRAC) Act
A bill to amend the Safe Drinking Water Act to repeal a certain exemption for hydraulic fracturing, and for other purposes.
H.R. 2766 – Fracturing Responsibility and Awareness of Chemicals Act of 2009
To repeal the exemption for hydraulic fracturing in the Safe Drinking Water Act, and for other purposes.