Posted 18 December 2014 - 10:18 PM
I don't know how I feel. I mean the situation is complex.
I don't think that there is anything intrinsically wrong with fracking. To be sure, in it's current implementation in the states we've got some things to work out in terms of the industrial effluent being discharged into our water table. But the technology, given time, could be made safe.
Let us not forget that the fracking boom is probably primarily responsible for the lowered gasoline prices here in the US, and the worldwide slump in oil prices (from 110$ a barrel down to 60$ a barrel). Those kinds of fluctuations in price make other extraction methods more or less viable. The Alberta tar sands, for instance, were only deemed economically viable when the price of oil stayed above, say, 100 bucks a barrel. It is particularly naive to assume our actions won't affect other oil producers. Just look at the ruble and their astonishing 17% central bank interest rate.
Personally I think we should institute a ban like we did with offshore drilling. Let the Super-majors exploit the rest of the world's resources while we save ours for a time of need.
We were really making progress in renewable energy before fracking came along. Now Toyota is stuck with it's foot in it's mouth over their fuel cell cars, and Nissan looks like a jackass for saying that every family would want a Leaf.