Democrats and Republicans set aside their differences on Monday morning to cheer the launch of natural gas drilling next to the Pittsburgh International Airport. The ceremony featured speeches by Republican Gov. Tom Corbett, Republican Congressman Tim Murphy, Democratic County Executive Rich Fitzgerald, and local leaders.
Fitzgerald said that most residents back the project by Consol Energy that is expected to earn Allegheny County Airport Authority royalties worth at least $500 million. Consol intends to sink 47 new wells from six drilling pads in the next few years in order to extract gas from the Marcellus Shale, which is approximately 7,000ft underground, reported Washington Times.
The project was approved by state and local authorities as well as the Federal Aviation Administration. Consol disclosed that drilling activities started around 10 days earlier.
Meanwhile, the UK’s Labour Party has hinted at plans to strengthen rules governing hydraulic fracturing, or more commonly fracking, by introducing various changes to the infrastructure bill when the House of Lords meets on Tuesday.
The Department of Energy and Climate Change insists that the existing regulations and voluntary agreements have enough safeguards to govern shale gas drilling. However, the shadow energy minister Tom Greatrex doesn’t think that current agreements are exhaustive enough.
“Shale gas extraction must only be permitted to happen in the UK with robust regulation and comprehensive monitoring. Too often, David Cameron’s government has ignored genuine and legitimate environmental concerns in pursuit of a rhetoric-led policy,” Mr. Greatrex said.
The opposition plans to have water companies involved more in the development of shale wells and have baseline monitoring of methane levels in water sources done over a 12-month period, and environmental impact assessments done on all fracking site. It is wants all fracking fluids used disclosed.To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.
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