Archives for the day of: January 23, 2011

FromĀ SELCVA (Southern Environmental Law Center):

Southern utilities say coal is “cheap,” but this argument doesn’t add up when you factor in the costs to our environment and health.

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From Washington Post:

Shareholder groups have filed resolutions with major oil and gas companies urging them to disclose their plans for managing water pollution and financial risks associated with hydraulic fracturing, a technique used to extract natural gas from shale.

The resolutions announced Friday, filed with companies such as Chevron and Exxon Mobil, take aim at an increasingly common industry practice that has been blamed for tainting water supplies and land with chemicals.

Under hydraulic fracturing, known as fracking, high-pressure water, chemicals and particles are injected deep underground to break up shale formations and release natural gas. Companies are turning to fracking because more-accessible deposits of natural gas have dwindled.

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The shareholder groups include the New York state pension fund, Domini Social Investments, Trillium Asset Management and The Sisters of St. Francis of Philadelphia. The resolutions called on the companies to recycle waste water, disclose the type of chemicals used in the operations and lessen their toxicity.

“This is really about enhancing the long term-value of these companies,” said Andrew Logan, director of the oil and gas program for Ceres, a coalition of investors and environmental groups that works with companies to improve their business practices.

“They want to see these companies succeed,” Logan said. “The industry’s ability to continue to develop shale gas reserves depend on the public’s acceptance of fracking that it’s safe.”

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