The Obama administration is going to allow Anadarko Petroleum Corp to develop a huge natural gas field in Utah. Obama must really want to get elected. This is an amazing approval. Obama is going to allow the company to drill 3700 new wells over ten years in the existing field (not a new field).
This is on the heels of new rules on hydraulic fracturing which are not as severe as originally proposed.
The Obama administration on Friday issued a proposed rule governing hydraulic fracturing for oil and gas on public lands that will for the first time require disclosure of the chemicals used in the process. In a significant concession to the oil industry, companies will have to reveal the composition of fluids only after they have completed drilling, not before — a sharp change from the governments original proposal, which would have required disclosure of the chemicals 30 days before a well could be started. [Pittsburgh Post Gazette]
Hydraulic fracturing technology has enabled a large increase in production of oil and gas. It’s our key to independence from foreign oil, not algae or wind and solar farms, though I am not against alternative fuels. I am against subsidies for alternative fuels not ready for market.