Utica, Marcellus shale plays could represent more than $10 trillion in new economic activity

Columbus Business First ^ | January 17, 2013 | Jeff Bell

[2ndDivisionVet]

The Utica and Marcellus shale plays in Ohio, Pennsylvania, West Virginia and New York could represent more than $10 trillion in new economic activity when fully developed, says a new report from a bond rating firm.

But the analysis by Kroll Bond Rating Agency in New York also cautions that the oil and natural gas shale boom is “fraught with a multitude of environmental and health issues” related to hydraulic fracturing, or fracking.

It said concerns over methane escaping during drilling, water use in fracking operations and potential contamination issues all need to be adequately addressed. New York has banned fracking since 2008 pending more study of those issues.

But much of the Kroll report echoes the sort of bullish natural gas development and related economic growth projections that have been common in Ohio since the Utica shale play began to garner attention in 2011...

[knarf]

But the analysis by Kroll Bond Rating Agency in New York also cautions that the oil and natural gas shale boom is “fraught with a multitude of environmental and health issues invented fears that will be determined as we see what direction our efforts to scare people go” related to hydraulic fracturing, or fracking.

[Nik Naym]

Not in NY.

No drilling here.

Positive economic activity, like 30 round magazines, is not allowed.

[hinckley buzzard]

The New York study gave the gas fracking industry a clean bill of health. Obviously, these bean counters are extremely risk averse and not given to a realistic appraisal of the reality on the ground.

[SunkenCiv]

Thanks 2ndDivisionVet.

[rmlew]

It would do wonders for these coal and rust belt areas. That’s half the reason Democrats oppose it. Aggrieved people on welfare are Democrats. people making money and fearful taht he government will take it or destroy their business are not.