FUTURE GENERATIONS DESERVE AN UNBIASED AND COMPREHENSIVE ECONOMIC ASSESSMENT OF SHALE GAS DEVELOPMENT
CURRENT ECONOMIC NEWS:
Ms. Rogers speaks out against the implementation of policy based on the notion of cheap and abundant shale gas. She warns that Americans should not “place all our eggs in one basket,” overexploiting natural gas while decimating the renewables sector. She says, “there is a place for natural gas, certainly, in the overall energy mix as we transition to renewables, but we must not make the mistake of relying on natural gas – particularly from unconventional sources – to the detriment of renewables. Unfortunately that is precisely what is happening at present.”
The New York Times reports that the shale gas rush may be misleading consumers and investors; profits may not be forthcoming as the industry has projected. One has to wonder if we have another “mortgage/type crisis” on our hands.
The “Big Fracking Bubble” has been both reported extensively in some major publications and as well denied by one of the industry’s most prominent proponents. If however the bubble is real then it explains why Chesapeake Energy may be abandoning the Marcellus shale region-as if they were Chesapeake Energy may be abandoning the Marcellus shale region-as if they were bandits taking off with their spoils. They are of course are free to go, having ravaged a region there are no laws that compel them to stay and repair or repay what or whom they have damaged. One is left to ask the question where are the jobs that have been promised?
Economic Outlook for New York State
“The people of New York State and future generations deserve an unbiased and comprehensive assessment of what shale gas extraction might mean for our health, our environment, our quality of life and our economy. If our political leaders do not insist on this, then they have failed all of us.” Jannette Barth