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Strategies & Market Trends : Beat The Street With SI Traders

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From: Goose94	5/12/2014 8:37:29 AM
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Fracking can be done safely... The Globe and Mail reports in its Monday edition that replacing coal with much cleaner natural gas has significantly improved the United States environment, the opposite, however, is happening in Europe, thanks to its anti-shale gas stance. The Globe's Gwyn Morgan writes that Europe is not the only fracking phobic place. Quebec continues its moratorium and New Brunswick has seen anti-shale gas protests. These fears were buoyed by a recent report from the Council of Canadian Academies that enumerates several things that could go wrong with fracking, such as a risk to potable groundwater. No evidence is presented that any damage has actually occurred, just that it might. An Environmental Protection Agency report notes that in the past 60 years in the United States, "1.2 million wells have been hydraulically fractured without a single confirmed case of groundwater contamination. Mr. Gwyn notes that EnCana has safely fractured tens of thousands of natural-gas wells since 1975. Unlocking the enormous potential of shale gas can reduce the world's consumption of oil and coal, while lowering energy costs and providing wider energy options to countries dependent on a single source.

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