Letter to the editor: Companies admit fracking’s risks
When seeking investors, publicly traded companies are required to reveal the risks of their operations to potential investors. The following excerpt from a gas-company prospectus provides clear evidence that the industry does not belong in residential or agricultural areas:
“Oil and natural gas operations are subject to many risks, including well blowouts, craterings, explosions, uncontrollable flows of oil, natural gas or well fluids, fires, formations with abnormal pressures, pipeline ruptures or spills, pollution, releases of toxic natural gas and other environmental hazards and risks. If any of these hazards occur, we could sustain substantial losses as a result of injury or loss of life; severe damage to or destruction of property, natural resources and equipment; pollution or other environmental damage; clean-up responsibilities; regulatory investigations and penalties; or suspension of operations.
“As we drill to deeper horizons and in more geologically complex areas, we could experience a greater increase in operating and financial risks due to inherent higher reservoir pressures and unknown downhole risk exposures.”
There is no longer any question that unconventional gas production exposes residents to toxins known to pose grave risks to health. The greatest risk is to our most precious residents, our children.
A recent 20-day blowout in Belmont, Ohio, released 100 million cubic feet of gases per day and over 5,000 thousand gallons of brine, and necessitated a 1-mile evacuation zone.
Yet the gas industry has the audacity to testify in court and to the public that fracking isn’t industrial.