In the discussion thread: New York Judge Rules Town Can Ban Gas Hydrofracking [View all]
Response to Fortran (Reply #25)
Mon Feb 27, 2012, 08:04 AM
PA Democrat (11,153 posts)
31. So all of the people who have complained of water contamination
are faking illness and somehow setting their own well water on fire for financial gain through a lawsuit? Really? You want to go there? The EPA concluded 25 years ago that fracking could and had resulted in groundwater contamination. I suppose the EPA is operating on anecdotal evidence as well?
And your contention that the only people complaining are those who do not stand to gain financially is wrong as well. In fact many people who have signed leases with the drilling companies have risked being sued themselves for speaking out against the corrupt and deceptive practices used by the companies to get them to sign the leases. They risk a lawsuit because the leases all contain a confidentiality clause. The truth is that the companies are forced by law to disclose the risks to their shareholders but not to the landowners they exploit for financial gain.
As natural gas development has pushed into
populated areas, gas drillers have consistently sent
their shareholders and potential investors daunting
lists of possible mishaps, including leaks, spills,
explosions, bodily injury, limited insurance coverage
– and death.
The reason for these warnings: federal law, enforced by
the U.S. Securities and Exchange Commission, aims to
protect investors against fraud by requiring companies
that sell stock to disclose “the most significant factors
that make the offering speculative or risky.”
But according to landowners, attorneys and industry
documents, gas drillers paint a far more benign picture
in the millions of unregulated transactions in which
they persuade landowners to lease their property for
drilling in exchange for a share of the proceeds. In its
filings with the SEC, Oklahoma City-based Chesapeake
Energy Corp., the nation’s second-largest natural gas
producer, proudly called its aggressive pursuit of these
leases a multi-million-acre “land grab.”
In personal interviews, nearly two dozen landowners
who live atop the gas-and-oil-rich Marcellus and
Utica shale formations that stretch from New York
to Kentucky told Environmental Working Group
researchers that drilling industry representatives, often
known as “landmen,” never mentioned possible risks
to their water supplies or health as they negotiated
gas-drilling leases. The landowners, in Maryland, New
York, Ohio, Pennsylvania and Virginia, said that some
landmen even denied that any such risks exist – despite
SEC filings to the contrary by multiple companies
including Chesapeake, Irving, Tex.-based Exxon Mobil
Corp. and Houston-based ConocoPhillips.
Those poor gas companies. They are the true victims here!
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|blue neen||Feb 2012||#30|
|PA Democrat||Feb 2012||#32|
So all of the people who have complained of water contamination
|PA Democrat||Feb 2012||#31|
|Uncle Joe||Feb 2012||#16|
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