Breitling's Faulker's Opinions | Russell T. Rudy Energy LLC
The Marcellus shale runs underneath western New York, but the state has a six year ban on fracking which has deterred development of this resource. Local governments have passed ordinances prohibiting fracking in their jurisdictions as well. The authority of municipalities to institute such laws was challenged in a court case which went all the way to the New York Court of Appeals, the ultimate legal body in the state. The high court held that local authorities do, in fact, have the right to ban fracking via zoning regulations.
“Rigzone” recently interviewed Breitling Energy’s CEO, Chris Faulkner, to get his reaction. Faulkner does not think that New York governor Andrew Cuomo will lift the statewide ban on fracking due to his political alliance with environmental groups. However, he probably will not make the ban permanent as he recognizes the benefits of development of the Marcellus shale through fracking.
If there is no statewide ban, Faulkner feels that some localities will look at the economic benefits of fracking in neighboring Pennsylvania, and want to participate as well. Oil and gas investment will gravitate to these areas, which in turn will reap the economic rewards of development and lower property taxes. Hopefully, this will erode resistance to fracking in other jurisdictions.
Faulkner feels that long term, the industry needs to counteract the fear-mongering and misinformation being spread by anti-fracking forces. The best way to do this is through making the public aware that enjoying the economic prosperity that fracking affords, does not mean sacrificing the environment or compromising safety. He contends that “Fracking is safe and it is giving America a pass to speed on the road to energy independence.” He bolsters his claim by pointing out that partly as a result of fracking, Texas now produces more oil than Iraq.
To read the article in its entirety, please go to www.rigzone.com/news/oil_gas/a/133880/Breitling .
