Tue, 28 February 2012
Byron King of Agora Financial is a geologist by trade, and he has actually been to the Arctic National Wildlife Reserve (ANWR). Contrary to popular belief, the ANWR is a desolate place because very few tourists ever make it up there. So the price America is currently paying for NOT developing this extremely valuable resource is amazingly high. Without the added production from ANWR, the Alaska Pipeline may be close to closing, which would be an extreme loss to the nation and our energy security. While energy exploration and production always involves risks, they have been greatly reduced by better technology and risk management.
Byron explains that contrary to popular belief, there's very little risk to the environment from Hydraulic Fracking, or Hydro Fracking. The wells are thousands of feet below the water table and aquifers; therefore, it presents little risk of well water pollution. The uninformed, knee jerk opponents need to take a deep breath and understand the potential damage they are doing to America's ability to be energy self-sufficient. Old memes die hard, and the baby-boomers have painful memories of the 1969 Santa Barbara oil spill and the Exxon Valdez's sinking.
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