January 03, 2012

Who Will Own NY?

There are two headlines in the news today that may seem unrelated to the fracking issue in NY, but I think we need to connect the dots here. 

1.  BP sues Haliburton $42 billion for the clean up costs of the 2010 Gulf of Mexico oil spill.  Haliburton was responsible for the cemented well that failed.   Be sure to make a mental note:  Haliburton patented the well drilling operation we know as high volume hydraulic fracturing!  All of the energy companies involved in this technology are desperately trying to convince us that fracking is safe ~ no contamination results.  This will be a busy time for Haliburton in 2012.

2.  The second article totally floors me and I hope it does you too.  Today,  The AP Associated Press reports on Chesapeake's aggressive buying of land for shale ventures and it's $2.32 billion sale to French company Total SA.  "The land, spread across 10 Ohio counties, sits atop the oil-rich Utica shale formation. The petroleum industry recently has been clamoring to tap the Utica as oil prices rise. Doing so requires drillers to tunnel several thousand feet below the surface and employ a technique called hydraulic fracturing to unlock oil and gas trapped within."  Read the full article

For other background, see the Nov 30 Reuters article by Anna Driver:  Chesapeake Energy Corp is buying acreage in Ohio's Utica shale formation "Chesapeake is the most agressive buyer of land in the new U.S. shale formations, which are believed to hold massive reserves of natural gas."  Read the full article

Connect the Dots:  The company that founded the fracking process and it's insane technology is being sued big time for failure of its well casing.   In the meantime, our lands above the Utica Shale are being sold like hotcakes for more fracking!  Lastly, isn't it interesting that France is one of the countries that has banned fracking within it's borders!  Red Flag!

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