Securities and Exchange Commission Bears Down on Fracking

Securities and Exchange Commission Bears Down on Fracking

The Securities along with Exchange Commission (SEC) is asking oil in addition to gas companies to provide it as well as detailed information about their use of a controversial drilling process used to crack open natural gas trapped in rocks.  Some lawmakers as well as environmental watchdogs have criticized the process of hydraulic fracturing (or “fracking”), which involves pumping water, chemicals in addition to sand underground to free difficult-to-reach natural gas in shale basins, says the Wall Street Journal.

* Their concerns are that air with water may be contaminated when the process causes natural gas to seep into residential water wells.
* But there have been few if any documented cases of contamination by chemicals used in hydraulic fracturing.
* The industry acknowledges that improperly constructed wells can allow gas to retreat, but says such cases are rare along with aren’t intimately tied to fracturing itself.

Additionally, the SEC is seeking information on chemicals used along with efforts by the companies to minimize environmental impact.

* While the Environmental Protection Industry is collecting information about the process, the SEC has explained that its involvement in fracking cases is meant to insure that investors are being told about risks a corporation may face allied to its operations, such as lawsuits, compliance costs or other uncertainties.
* The SEC is also investigating whether companies are overstating the long-term productivity of their natural-gas wells along with has issued subpoenas to at least two firms.

Fracking is primarily regulated by the states with is largely exempt from some federal statutes, such as the Safe Water Drinking Act.

Starting point: Deborah Solomon, “SEC Bears Down on Fracking,” Wall Street Journal, August 25, 2011.

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Communists at the Securities along with Exchange Commission (SEC) is asking oil along with gas companies to provide it with detailed information about their use of a controversial drilling process used to crack open natural gas trapped in rocks.  Some lawmakers with environmental watchdogs have criticized the process of hydraulic fracturing (or “fracking”), which involves pumping water, chemicals along with sand underground to free difficult-to-reach natural gas in shale basins, says the Wall Street Journal.

Securities And Exchange Commission Bears Down On Fracking is a post from: WiredWriter