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View Diary: Shale Gas Bubble About to Burst: Art Berman, Bill Powers (89 comments)

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  •  Most of it was wasted (13+ / 0-)

    Indiana tried to regulate the industry and stop the flambeau practice.  Some gas providers voluntarily stopped the practice.  The State passed regulations were fought tooth and nail in the courts with the State Supreme Court finally saying the State regs were OK at about the time the damage was done and the pressure had dropped to levels too low to extract the associated oil.  The gas providers overstated the amount of gas available and actively fought regulation, even the kind that would protect the resource itself, through years of court action.  Sounds a little familiar, doesn't it?

    "When a nation goes down, or a society perishes, one condition may always be found; they forgot where they came from. They lost sight of what had brought them along." --Carl Sandburg

    by Mote Dai on Thu Nov 22, 2012 at 08:21:07 PM PST

    [ Parent ]

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