Wednesday, December 17, 2014

NY to Ban Fracking, US Less Dependent on Oil

Cuomo to Ban Fracking in New York State, Citing Health Risks

ALBANY — The Cuomo administration announced Wednesday that it would ban hydraulic fracturing in New York State, ending years of uncertainty by concluding that the controversial method of extracting gas from deep underground could contaminate the state’s air and water and pose inestimable public-health risks.

“I cannot support high volume hydraulic fracturing in the great state of New York,” said Howard Zucker, the acting commissioner of health.

That conclusion was delivered publicly during a year-end cabinet meeting called by Gov. Andrew M. Cuomo in Albany. It came amid increased calls by environmentalists to ban fracking, which uses water and chemicals to release natural gas trapped in deeply buried shale deposits.

The state has had a de facto ban on the procedure for more than five years, predating Mr. Cuomo’s first term.....   read more here 


America is Finally Becoming Less Dependent on Oil – Both Foreign and Domestic

A new graphic presentation from Bloomberg demonstrates just exactly how America is becoming less dependent on not just foreign oil, but domestic oil as well.

Graphs show how gas prices have risen and fallen over the past five years and are now at their lowest since 2010. Some states are even reporting an average price of less than $2 per gallon.

“With so much cheap oil available,” reads the presentation, “you’d expect consumption to be soaring — yet that isn’t happening. In fact, the US is consuming the least oil per dollar of gross domestic product in more than 40 years.”

Where oil consumption and GDP once “moved roughly in tandem,” the GDP now continues to rise and oil demand has seemed to remain steadily between 18 million and 20 million barrels a day since about 2009. In fact, economists at the Department of Energy are predicting that consumption next year “will be flat, and may even contract.”

To figure out why this is occurring, several factors have to be take into consideration.....  more here

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