As the federal government prepares to gut key programs to protect water and other natural resources through this week’s debt agreement, the Department of Energy (DOE) has announced plans to invest $12.4 million on programs to support shale gas development. Yet new analysis released by the national consumer advocacy group Food & Water Watch casts additional doubt on the viability of natural gas obtained through hydraulic fracturing. “Pipe Dreams: What the Gas Industry Doesn’t Want you to Know about Fracking and U.S. Energy Independence” shows that gas leases are not only generating less energy than once forecast, but also a significant portion of U.S. fracked gas will be exported overseas and the industry’s revenues will benefit foreign economies.
According to recent trade publication accounts, DOE will invest $1.6 million, outspending General Electric 4 to 1, on a project designed to remove radioactive material from wastewater from fracking operations in New York State. It will spend additional funds on projects to improve natural gas well performance in Colorado, Texas, California and New Mexico.
Source: Philly Burbs
For Energy Investments and Industry News
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