You can’t extract shale gas in New York state, but that doesn’t mean you can’t burn the cheap stuff. New York City is building a pipeline to bring in cheap natural gas from Pennsylvania. The pipeline will carry enough gas to heat 2 million homes, and you can bet plenty of NYC residents are looking forward to burning gas at historically low prices. The FT reports:
New York’s thirst for gas comes as the state government mulls whether to lift a ban on hydraulic fracturing, which critics say threatens to contaminate water supplies and leak methane, a potent greenhouse gas. Even without contributions from New York state, gas production in the northeast of the US has climbed more than 500 per cent since 2005 as fracking grows in the Marcellus, according to Bentek Energy.
Maybe eco-hipsters warming themselves with cheap, fracked gas will console themselves with the thought that it’s “locally sourced” in the Marcellus Shale in Pennsylvania. But as the blue Big Apple burns more gas, New York state still bans it. Our guess: not for long.
[Oil rig image courtesy of Shutterstock]