Fracking: The Rest of the World Resists, Leaving U.S. with a Competitive Advantage

Countries in Europe have banned hydraulic fracking altogether and other countries have banned the use of BTEX compounds essential in the fracking process.

In the U.S. there is no ban and the barriers are low for new fracking operations giving companies drilling in the U.S. a competitive advantage.

"A key, but often overlooked, ingredient to the success of shale development in the U.S. is private ownership of much of the underground gas. That means that environmental concerns about drilling are countered by a built-in constituency of landowners looking for profit.", "It is a marvellously elegant system that ensures that all natural resources are fully developed."
                                                  -Rex Tillerson CEO Exxon Mobil

This quote is beautiful. It shows the mechanism which has brought America great success in the past. But, does the average layman or even science have all of the answers needed to prove the lack of adverse effects from fracking. Given such widespread continued debate I'd say no. Unfortunately the American system is set-up to "make money now, ask questions later"....
    i.e. It is hard to disagree with allowing a company to frack on your property when you are underwater on your mortgage and they offer you $25,000 cash and profit payouts on findings.

"Zoback and other scientists surveying existing data generally have concluded that there are dangers associated with fracking but that existing technologies, regulation and serious enforcement could resolve them. Such regulations would include minimizing the local environmental footprint of setting up the well site and trucking in water and sand, monitoring the integrity of steel casings and cement, swapping out toxic chemicals from the fracking fluid, and collecting seismic and other geologic data."               -ScienceNews.org  (Respected weekly magazine contributed by top scientists since 1922)

A research company, contracted by the U.S. government, conducted a study on 32 countries estimating that the reserves available through fracking in these countries could supply current global consumption for 50 years. (WSJ )

Considering the statement regarding the dangers of fracking while considering the amount of fuel available through fracking, it seems as though the risks outweigh the potential benefits. With only 50 years of natural gas available (remember: 50 years at the current level, which increases exponentially every decade), we should take the dangers to heart and be realistic about the potential gains:

-Increase regulation on method of extraction
-Require full education on the subject for landowners before agreeing to allow fracking on their land
-Realize that finite fossil fuel supply makes it critically essential to develop renewable sources or energy

The Wall Street Journal, "Global Gas Push Stalls", p. A1 December 3rd, 2012. -Russell Gold, Marynia Kruk

ScienceNews.Org: The Facts Behind the Frack
<http://www.sciencenews.org/view/feature/id/343202/title/The_Facts_Behind_the_Frack>