Another Reason Fracking Will Save the Planet
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  • Glenn

    But see the WSJ’s editoral, 30 May, on Sierra Club’s new effort to “kill” the shale natural gas industry, SIERRA CLUBS NATURAL GAS:

    [QUOTE] The media are finally catching up to America’s shale natural gas boom, with even Fortune magazine waddling in with a cover story. But the bigger recent news is that one of the most powerful environmental lobbies, the Sierra Club, is mounting a major campaign to kill the industry.

    The battle plan is called “Beyond Natural Gas,” and Sierra Club executive director Michael Brune announced the goal in an interview with the National Journal this month: “We’re going to be preventing new gas plants from being built wherever we can.” The big green lobbying machine has rolled out a new website that says “The natural gas industry is dirty, dangerous and running amok” and that “The closer we look at natural gas, the dirtier it appears; and the less of it we burn, the better off we will be.” So the goal is to shut the industry down, not merely to impose higher safety standards.

    This is no idle threat. The Sierra Club has deep pockets funded by liberal foundations and knows how to work the media and politicians. The lobby helped to block new nuclear plants for more than 30 years, it has kept much of the U.S. off-limits to oil drilling, and its “Beyond Coal” campaign has all but shut down new coal plants. One of its priorities now will be to make shale gas drilling anathema within the Democratic Party. [END QUOTE]

  • Kenny

    Yes, and in today’s Wall Street Journal is also an editorial pointing how the kooks at the Sierra Club will fight fracking and natural gas in their declared war against hydrocarbons and economic development.

    http://online.wsj.com/article/SB10001424052702304363104577390432521371296.html?mod=WSJ_Opinion_LEADTop

  • melman

    i’m in a low cost electricity area, and for heating our properties in the past electric, oil, or natural gas cost pretty much in the same range

    now gas costs significantly less, and fortunately we stayed with that type of heating in our real estate

  • melman

    just to add: the gas price drop has almost made up for our increases in commercial property taxes…

  • MJB

    Yes, there will be problems but they will be engineering problems not problems with basic physics as is the case with wind and solar.

  • Corlyss

    “Another Reason Fracking Will Save the Planet”

    Not if the envirothugs have anything to say and do about it. Let’s not forget that they own 100% of one major party and a large minority of the other one. Bill Ayers’ propaganda program has produced generations of voters hostile to cheap energy and the prosperity it brings.

  • Kris

    [email protected]: “The battle plan is called ‘Beyond Natural Gas,’ … and its ‘Beyond Coal’ campaign”

    All part of the “Beyond Energy” strategy, to be followed by “Beyond Humanity”.

  • Mark Michael

    8. I would add that natural gas is the feedstock for an array of petrochemical products. The big Marcellus and Utica shale deposits is being exploited in my state of Ohio. Youngstown is building a $650 million steel mill whose primary products will be pipelines for transporting natural gas. Youngstown is located about halfway between Pittsburgh and Toledo. Toledo has a big refinery that will use that natural gas. Pennsylvania is a big shale natural gas producer recently.

    The Youngstown mill is now owned by a French Company, Vallourec & Mannesmann (shortened to V&M Star). Many higher-skilled employees work in the industry. Their wages average around $80,000/year & they have advanced technical training of various sorts, including some engineers.

    First World countries still dominate the petrochemical manufacturing business, although some Asian countries are starting to build up a capability in this area (India is one). With the drop in natural gas prices from $16 per MBTU to around $2 to $3 per MBTU, it gives American petrochemical plants a big advantage over their biggest competitors in Japan and Europe. Products like paints, inks, dyes, packaging, bottles, cosmetics, lubricants, resins, adhesives,…, well it runs on & on. For a summary discussion, check out:

    http://en.wikipedia.org/wiki/Petrochemical

    This is partially why Ohio created more jobs in March 2012 than any other state in the Union, including Texas: 28,000. Our unemployment rate is now 7.6%. At the height of the recession it was over 10% if I recall correctly. Maybe we’ll compete with North Dakota in a few years, who knows! (Maybe our economy will be so good, the voters will vote for Obama next November. You know, vote for the incumbent if the economy is good; vote for the challenger if the economy is bad. Scary thought, I must say.)

  • Mark Michael

    I forgot to mention that other industries in Ohio benefit from the shale natural gas exploitation. [I notice I should have proofread my post above “deposits are” (not “is,” good grief, oh well.] Lincoln Electric in Cleveland is a nonunion manufacturer of a variety of welding equipment and ancillary products. About half of its sales are in North America. That makes them a big suppler of the Ohio companies building the new natural gas pipelines, the new steel mill to fabricate the pipe needed for those new pipelines. (There are hundreds of miles of “distribution” pipelines being built. Those are smaller, thinner pipelines to gather up the gas from all of those wells. They then feed larger pipelines for transporting the gas longer distances.)

    I happened to buy stock in Lincoln Electric when it first went public in 1998 and then anther bunch in Jan 06, right before the shale natural gas discoveries. (BTW, Ohio has been using “hydraulic fracturing” for natural gas wells since 1951, so that part of the “new” technique is 61 years old. Combining it with horizontal drilling is what’s new: combining them together.)

    Lincoln’s stock price reflects its prospects: Jan 06 I paid $21.46/share; today it’s $47.23, an annual capital gain of 13%; add in its 1.43% dividend, and the total ROI is 14.43%. Hardly spectacular, but a solid gain. (I paid $11.96/share for the 1998 purchase. That average annualized capital gain over those 14 years is 10.3%. The dividend varied a lot over those years, so I won’t try to add it in.)

    Another company that I purchased stock that benefits from the natural gas boom is a natural gas pipeline company called Spectral Energy. It has operations in Ohio. It was spun off from Duke Energy in Jan. 2007 at $20.91/share. Today it is at $28.71, an average annualized cap gain of 6%. It pays a dividend of 3.9% so the ROI is 9.9%/year. Nothing spectacular, but it beats putting your money in a MMF and collecting maybe 0.1%!

  • ROERT HARBALL

    HUMAN’S WHO WANT WHAT IS BEST FOR “MOTHER EARTH”AND THE GENERATIONS OF ALL OF THE EARTH’CREATURE’S OFFSPRING,US AND OUR CHILDREN’S CHILDREN,PLANT’S ,ANIMAL’S,FISH,BIRD,AND EVERY LIVING THING THAT IS ESSENTIAL TO THIS WORLD’S EXISTANCE.OPEN YOUR EYES,IF WE DO NOT CHANGE THIS WORLD,TO A GREEN ENVIORMENTLY FRIENDLY WORLD WE HAVE ALLREADY BEGONE TO KILL THE EARTH AND ALL ITS ECOSYSTEMS,BECAUSE GREED HAS MORE POWER THAN”sorry it is to late for the LOVE of the many”THE GREED OF THE FEW,DESTROYED OUR WORLD
    DY BEGONE

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