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Executive Order to "Coordinate" Fracking Regulations
President Obama on Friday issued an executive order to better coordinate federal oversight of "fracking," the popular but controversial natural-gas extraction method.The order establishes an "interagency working group" with members from the Environmental Protection Agency, the Interior Department, Energy Department, National Economic Council and other bodies. At least 10 federal departments or agencies currently are mulling new regulations of the gas industry or have commissioned studies of its environmental impact. They have to get everyone on the same page before they ban fracking. The sheer number of potential rule makers has caused many industry insiders to fear confusing or overlapping guidelines; some analysts say that could greatly hamper domestic oil and gas production. The new working group, Mr. Obama said, is designed to "ensure coordination among the appropriate federal entities." And while some industry folks welcome the move ... It remains to be seen, however, whether the move lessens the potential impact of looming federal rules. Later this year, the EPA will release a long-awaited report on the environmental safety of fracking, the use of water, sand and chemicals to crack underground rock and release vast quantities of fuel. Many industry analysts expect the report to call for sharp new restraints on the drilling method. Posted by: Bobby 2012-04-16 |
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