A hearing before the House Science committee showed the sharp divide over the seismic hazards of hydraulic fracturing and wastewater disposal as the U.S Geological Survey released its first pass at modeling the risks of earthquakes induced by human activity.
"Potentially induced seismicity greatly increases the seismic hazard in Oklahoma and in the other induced seismicity zones," the USGS report said.
But Rep. Dana Rohrabacher, R-Calif., told the Science committee hearing that he thinks fracking-related earthquakes are being overblown.
New driller Independence Resources Management LLC -- which intends to focus on unconventional shale plays in places like the Anadarko Basin – is getting $500 million in backing from private equity firm Warburg Pincus, the Houston Business Journal reports.
Although sand and water are the primary substances used in fracking, an Environmental Protection Agency analysis of data from FracFocus.org found that nearly 700 chemical additives appear as well, according to The Hill.
Calling it “frustrating,” “terrible” and “distressing,” Democrats and Republicans on Thursday ripped into the Interior Department's new rule on hydraulic fracturing as they heard testimony from the director of the Bureau of Land Management.
At a hearing of a House Natural Resources subcommittee, there was bipartisan dissatisfaction as lawmakers told BLM Director Neil Kornze that the rule was misguided – with Republicans calling the rule a unnecessary burden to industry and Democrats decrying it as too weak on environmental protection.
The Interior Department's final rule regulating the use of hydraulic fracturing for oil and gas on federal and tribal lands met swift legal and legislative pushback from industry groups and congressional Republicans Friday. They said it would hinder energy development and infringe on established state regulatory systems.
But on the other side, Democrats and environmental groups raised concerns that the move didn't go far enough to protect public lands from the oil and gas extraction process.
Dropping allowable ozone levels would choke off economic growth, according to a letter 269 business groups sent to President Obama Wednesday, in a move organized by the National Association of Manufacturers, The Hill reports.
The reported decline in U.S. crude inventories helped oil prices reverse a recent slide Wednesday. Light, sweet crude for September delivery gained 81 cents, or 1.7 percent, to settle at $48.79 a barrel on the Nymex, while in London, Brent inched up 8 cents to $53.38, The Wall Street Journal reports.
Continued problems at the clean coal project in Kemper County, Mississippi moved Southern Co. to book a $14 million charge in the second quarter, although the utility’s profit grew by more than 2 percent overall, helped by warmer weather, The Wall Street Journal reports.
To power some of its delivery fleet, UPS is buying as much as 46 million gallons of renewable diesel—made from palm oil, waste oil and animal fat, among other sources—that's coming from three different suppliers, The New York Times reports.
Stocks of ultra-low-sulfur diesel, or ULSD, rose about two million barrels last week, to reach nearly 124 million barrels—the highest since the Energy Information Administration began collecting data on it 11 years ago, Platts reports.