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As you can see in the above article, Rasmussen is reporting that people still want us to develop domestic fossil fuel sources. This is obvious when you see how the economy booms around the industry.
Let's look at what I like to call "The Shale Rush." Living in an area which is sitting on a large amount of natural gas from one of the shale sites in the US, and seeing first-hand the economic benefit it is bringing to the area, I can attest to the obvious demand for these resources. In just the past few years since it has started, there has been an increase in jobs, an increase to local businesses, an increase in just about everything in the area. It's rather simple to watch the vehicles which are related to this effort move around the area, and see where they are spending money. What's not so obvious is the increased spending of the people positively impacted. More money in the market means more money for everyone. Some would suggest we should tax this industry heavily, because of the obvious desire for it. I challenge that strongly, as taxing things never increases production, and never accomplishes anything positive in regards to economic growth, but rather stifles it, and causes it to suffer.
The same logic can be applied to drilling for crude oil. Be it in the tundra of Alaska, off the Gulf Coast, or in Colorado, the immediate and long term benefit to any region which drills is significant. Beyond that, we can reasonably predict that oil prices will drop as production increases, which will stimulate better growth elsewhere in the economy. When shipping prices drop, and movement of product costs are lowered, the economy will blossom beautifully.
We, as a nation, are sitting on tremendous resources which rival what is available elsewhere in the world. I would argue that there is not a reasonable, logical reason why we should not be tapping into the resources which have been provided to us. Yet still the left insists that drilling is a "Bad Idea" for some unknown reason. They are unable to back their reasons with any sound evidence, they are unable to respond to legitimate, intellectual questions with anything other than emotionally charged, angry language. The president has claimed to lift the ban on drilling, yet his administration has yet to authorize or approve any movement in that direction. Clearly he is posturing to get the benefit on both sides of the issue, and in the process is doing nothing to help the American people or economy. It's time we returned to being a nation of freedom, rather than a nation under a dictatorial heel.
The Natural Gas drilling is economically a wonderful thing. What worries me is the chemicals it's leeching into the environment and the drinking water that is being ruined. While, on the whole, I'm not a fan of extra legislation, I do think it is the job of our government to protect our most basic and necessary natural resources from corporations more concerned with the bottom line than where our drinking water comes from and legislation in the marcellus shale area is lagging. "Fracking" is still in its infancy as a commercially used process and, unfortunately, what we are seeing is companies who, instead of trying to fix the problems so we can drill without guilt or fear, are seeing the damage they do as opportunity cost. Just this spring, the PA DEP fined Chesapeake energy over a million dollars (its biggest single fine ever). A small portion of that fine was for negligence in an explosion near burgettstown, but mostly it was because they destroyed a huge chunk of the well water in Bradford Co. That may have been a lot of $$ for the DEP, but its a drop in the bucket for Chesapeake energy. That is what is heading our way and, unfortunately, I don't think they're concerned about what they're doing to the water we drink.
ReplyDeleteI can understand that logic, but here's where I see a break-down:
ReplyDelete1 - The government never does 'just enough' and they over regulate, and take measures entirely too far. They are unintelligent and illogical about their dictates.
2 - The corporations DO care about what they are doing, at least if they care about staying in business. They have a public image to maintain, and they will not do things to jeopardize that. From conversations I've had with employees of the various fracking companies in the area, there is a great deal of effort put forth to prevent, or correct if prevention fails, water supply, property, run-off, etc.
3 - 1 Million dollars is no drop in the bucket to any company or corporation. They all operate on a budget, and no matter what revenue numbers are, expenditures and other places where that money is spent total very close to revenue. That million hurt them big time, meaning it hurt the stake holders, meaning it hurt them MORE than just the limits of the fine. What is already in place is more than sufficient.
4 - The reports of what is leaking and what the overall problems are have been greatly exaggerated. There have been studies done which basically debunk some old, significantly falsified data regarding the process. Mostly the bad data was attacking initial testing of fracking 15 years ago or so, and what was happening, and the issues they were having. The work done then has made it much cleaner and less invasive today. :)