hydraulic fracturing

Fracking companies are dying, and leaving leaking wells behind

So much for the vaunted Free Enterprise system:

The day the debt-ridden Texas oil producer MDC Energy filed for bankruptcy eight months ago, a tank at one of its wells was furiously leaking methane, a potent greenhouse gas, into the atmosphere. As of last week, dangerous, invisible gases were still spewing into the air.

By one estimate, the company would need more than $40 million to clean up its wells if they were permanently closed. But the debts of MDC’s parent company now exceed the value of its assets by more than $180 million.

Had another discussion recently about "flaring," wherein the oil/gas drillers burn gas in a spectacular display of sometimes 30 ft flames. I agreed that it was wasteful, but it's what you can't see that is the problem. Venting that gas without flaring it does much more damage than burning it off, and there is not nearly enough attention paid to this problem. Or the irresponsible behavior of the companies who should be forced to cap those wells:

Battle lines drawn between natural gas and renewable energy

solarfarm.jpg

Coal is dead (or dying), but the fossil fuel industry is not:

For years, environmental activists and liberal policymakers fought to force utilities to reduce coal use to curb emissions and climate change. As the use of coal fades, the battle lines are rapidly shifting, with the proponents of a carbon-free grid facing off against those who champion natural gas, an abundant fuel that produces about half the greenhouse gas emissions that burning coal does.

Coal plants supply less than 20 percent of the country’s electricity, down from about half a decade ago. Over that same time, the share from natural gas has doubled to about 40 percent. Renewable energy has also more than doubled to about 20 percent, and nuclear plants have been relatively steady at around 20 percent.

I overheard a conversation recently about solar energy vs coal-fired power plants, and both of the people said they hoped solar energy would be become cheaper than gas or coal one day in the future. At which point I interrupted to explain that day was already here. "I haven't heard anything about that. Are you sure?" Yes, I am sure:

Pages

Subscribe to RSS - hydraulic fracturing