Hi Jim.
Sometimes there is no way to express 'true costs' of an asset through monetary valuation equivalents. The underlying asset, itself, is priceless, in other words, and should remain off limits to speculation and inviolate from tampering.
re: "However, fracturing and injection can require significant amounts of water and worse, may contaminate subsurface potable water forever."
Hence, my concern and reason for posting this piece. I've seen more than a fair share of fornication clusters over the years brought about by overly-confident commercial interests feigning concern about the public good, abetted by dimwitted and scandalous politicians who'd be out of office were it not for the former group.
I don't care how many times they "run the numbers" and decide, as though through the use of an off-the-shelf Bloomberg asset pricing algorithm, that the probability of any ensuing downsides would be low. B.S. That may be fine for hedging useless derivatives, but not for the water needed to cook my Sunday spaghetti.
I seldom use the word "never" these days, but in this case I'll make an exception. I'll _N_ever be comfortable entrusting drillers (going directly below my fair city's reservoirs, no less) with the quality of New York City's drinking water supply. As you may have sensed by now, this is a subject that is very close to me in more ways than one, some transcending the obvious.
Your other points are well taken, thanks. Not to be repetitive, since I've already sent this to you, but to demonstrate that I've not become entirely Luddited, and for others here, I was encouraged by developments discussed in a piece that appeared in the NY Times yesterday, here:
New Way to Tap Gas May Expand Global Supplies
By CLIFFORD KRAUSS | October 10, 2009
nytimes.com
FAC
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