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Hydraulic Fracturing Robert Sittman
Christopher Conway Guadalupe Candanedo
Einav Henenson Justin Pfledderer
http://youtu.be/X8du6pQbvyo
commercial
HF in the last 10 years2005 Energy Act
Advances in the HF process
Chemicals
Industry Enormous potential for both the economy and the environment
Jobs!!!
Greenhouse gas advantages
National security benefits
Lower costs to consumers
A safe process
Has the Industry forgotten anything?
What the Frack?
Environmental Costs
Land
Water
Air
Social CostsIntragenerational inequality- certain people suffer while others benefit
Intergenerational inequality- contaminated water resources for the future
Interspecies inequality– animals are harmed
Economic Costs$
QQ*
$*
Social Marginal Cost
Private Marginal Cost
Marginal Benefit
Marginal Damage
True
UncertaintiesEnvironmental damage
Technical advances
Policy design and evaluation
Cost of policies
SolutionsPass the 2012 Frac Act
Technological based performance standard
Performance bond
Quasi option value
Questions?
References Adams, G., Hayes, S., Wejerter, S. and Boyd, J. (2007, October 24). Regulatory Capture: Managing the Risk. ICE
Australia, International Conferences and Events. Retrieved April 14, 2011 Arthur, J.D. (2008, September 21). Hydraulic Fracturing Considerations for Natural Gas Wells in Marcellus Shale.
Presented to The Ground Water Protection Council September 21-24, 2008. Retrieved from Google Scholar Cavner, R. (2011, February 8). Responding to the Hydraulic Fracturing Issue. Daily Hurricane. Retrieved from http://www.huffingtonpost.com/robert-l-cavnar/responding-to-the-hydraul_b_820215.html Chesapeake Energy (2010). Natural gas Water Usage Facts. Retrieved from:
http://www.hydraulicfracturing.com/Pages/information.aspx Environmental Protection Agency. (2004). EPA Study on Hydraulic Fracturing. Retrieved from
http://www.epa.gov/ogwdw/uic/pdfs/cbmstudy_attach_uic_ch07_conclusions.pdf Energy in Depth. (2010, June 9). Debunking Gasland. Retrieved from http://www.energyindepth.org/2010/06/debunking-
gasland/ Fox, J. (Director). (2009). Gasland [Motion Picture]. United States: Docuramafilms. Fox, J. (2010, July 12) Affirming Gasland: A De-debunking Document in Response to Specious and Misleading Gas
Industry Claims against the Film. Retrieved from http://1trickpony.cachefly.net/gas/pdf/Affirming_Gasland_Sept_2010.pdf Keohane, N. & Olmstead, S. (2007). Markets and the Environment. Washington: Island Press Kerr, R. (2011, August 11). Federal Committee: Shale Gas Needs Openness, Better Data. Science Insider
http://news.sciencemag.org/scienceinsider/2011/08/federal-committee-shale-gas-need.html?ref=hp Lustgarden, A. (2011, January 25). Buried Secrets: Gas Drilling’s Climate Benefits May Overstated and Possible
Environmental Threat. Pro Publica: Journalism in the Public Interest. Retrieved from http://www.propublica.org/article/natural-gas-and-coal-pollution-gap-in-doubt
References Montgomery, C. & Smith, M. (2010, December). Hydraulic Fracturing: History of an Enduring Technology. Journal of Petroleum Technology (Society of Petroleum Engineers) 62 (12): 26-32 Nadar, L. (2010). The Energy Reader. Malden, MA: Willey-Blackwell Publishing Nelson, P. (2011, July 18) Resources for the future. RFF Launches New Initiative on Risks and Regulations of Shale Gas.
Retrieved from: http://www.rff.org/News/Press_Releases/Pages/RFF-Launches-New-Initiative-on-Risks-and-Regulation-of-Shale-Gas.aspx
Rubinkan, M. & Caruso, D. (2011, April 12). Fracking Shale for Gas brings Wealth, Concerns. The Huffington Post.http
://www.huffingtonpost.com/huff-wires/20110412/us-gas-drilling-impact/ Urbana, I. (2011, February 26). Regulation Lax as Gas Wells’ tainted water Hits River. The New York Times. http
://www.nytimes.com/2011/02/27/us/27gas.html?_r=1&hp Walsh, B. (2011, March 31). Could Shale Gas Power the World. Time Magazine. Retrieved
from:http://www.time.com/time/health/article/0,8599,2062331-4,00.html Wilson, W. (2007, October 4). Letters from EPA Fracking Study Whistleblower. Earthworks: Protecting Communities and
the Environment. Retrieved from: http://www.earthworksaction.org/publications.cfm?pubID=372 Wiseman, H. J. (2008, September 23) Untested Waters: The Rise of Hydraulic Fracturing in Oil and Gas Production and
the Need to Revisit Regulation. Fordham Environmental Law Review. Vol 20. P. 115, 2009. SSRN: http://ssrn.com/adstract=1595092
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