Monday, August 06, 2012

Will Fracking be a Resource Curse for New York State?

 

Be afraid; be very afraid if the Fracking moratorium gets lifted in New York State. It’s hard to imagine but the possibility of New York State falling under the specter of Resource Curse because of Fracking looms. A resource curse is where “…refers to the paradox that countries and regions with an abundance of natural resources, specifically point-source non-renewable resources like minerals and fuels, tend to have less economic growth and worse development outcomes than countries with fewer natural resources.” Wikipedia

Marcellus Shale becoming top US natural gas field PITTSBURGH — The Marcellus Shale is about to become the most productive natural gas field in the United States, according to new data from energy industry analysts and the federal government. Though serious drilling only began five years ago, the sheer volume of Marcellus production suggests that in some ways there's no going back, even as New York debates whether to allow drilling in its portion of the shale, which also lies under large parts of Pennsylvania, West Virginia and Ohio. (August 5, 2012) Wall Street Journal

Because gas prices are only $3 here and $12 overseas, our state, our state that hosts the Finger Lakes, two Great Lakes and hundreds of other lakes and streams could devolve into a more drilling region from the Empire State.

We really ought to think this one out before we allow Fracking in New York State.

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