Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
How Stagflation Effects Stocks - 5th Dec 21
Bitcoin FLASH CRASH! Cryptos Blood Bath as Exchanges Run Stops, An Early Christmas Present for Some? - 5th Dec 21
TESCO Pre Omicron Panic Christmas Decorations Festive Shop 2021 - 5th Dec 21
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Drillers Pay Hush Money to Keep Their Fracking Toxic Secrets

Commodities / Natural Gas Jun 12, 2013 - 06:44 PM GMT

By: Money_Morning

Commodities

Tara Clarke writes: Hydraulic fracturing, or fracking, the art of separating oil from rock, has the potential of turning America into the world's top oil and natural gas producer.

But as with any bonanza it has some secrets oil and gas companies want to keep under wraps. And some companies are willing to put some big bucks behind that.


The industry has injected possibly carcinogenic chemical cocktails underground in more than 150,000 of wells during the fracking process.

U.S. companies have driven more than 30 trillion gallons of fracking liquid underground in the past several decades.

But not to worry: the U.S. Environmental Protection Agency is monitoring the situation! It is solely charged with conducting long-term studies of the potential impact of fracking on water.

Feel safe?

It recently surfaced that the EPA keeps super-secret email accounts. In addition, we now know the EPA has shady ties with the vocally pro-fracking Obama administration.

Consider how the IRS has been operating under Obama.

I'd say the odds are prettttty good that the EPA hasn't been doing a whole lot of "objective research" on the environmental effects of fracking.

You might comfort yourself with the thought that there's nothing in the news about people being harmed by fracking chemicals. No real data is coming out showing that fracking taints our water.

Well, as it turns out, across the country drillers are paying hundreds of thousands of dollars in cash settlements to silence people who say that fracking ruined their water.

In return for the hush money, they must sign non-disclosure agreements.

"At this point they [the companies] feel they can get out of this litigation relatively cheaply," said Marc Bern, an attorney with Napoli Bern Ripka Sholnik LLP in New York, who has negotiated about 30 settlements on behalf of homeowners, in an interview for Bloomberg. "Virtually on all of our settlements where they paid money they have requested and demanded that there be confidentiality."

This strategy keeps real fracking data out of the public's reach.

With no public court hearings, and no Average Joe on local news channels talking about how he can light his drinking water on fire, it's very difficult to challenge policymakers' claims that fracking doesn't cause ill-effects.

But a telling court case was recently unsealed.

In the case, private Pennsylvania citizens Stephanie and Chris Hallowich accuse fracking companies with ruining their drinking water and causing them to suffer from chronic health issues, including headaches, inflamed eyes and sore throats.

The Hallowich case was originally settled and sealed from the public with the same non-disclosure and payoff tactics I described above; defendant drillers paid the Hallowiches $750,000 in settlement in exchange for their silence.

But recent media demands caused a Pennsylvania judge to reexamine whether the case should be sealed.

The media requested that Hallowich be made public because the press has a common-law rule of access to the courts. On the other hand, the drillers argued that unsealing the case would violate their businesses' constitutional right of privacy.

Ultimately, the drillers were unable to demonstrate that opening the Hallowich case would cause harm to their trade secrets, to the privacy and reputation of innocent parties, to national security interests, or to the fairness of a trial.

The Hallowich case gives us a rare glimpse of the negative effects fracking can have on our water that drillers don't want anyone to know about.

We also get to see, first-hand, how this hush money formula typically works.

With so many settlements being reached to silence property owners across the U.S., clearly fracking must cause some ill-effects. More transparent studies should be undertaken. And not by the EPA.

Fracking is in our national interest. More domestic oil means less dollars flowing overseas to enrich potentates. But the more we know about it, the safer we can make it. Paying hush money doesn't help.

Source :http://moneymorning.com/2013/06/10/drillers-pay-hush-money-to-keep-their-fracking-secrets/

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Meremortal
13 Jun 13, 00:34
Fracking Garbage

Not one source of actual harm to water or people included in the article.

I wonder why.

The Democrat Governor of Colorado drank fracking fluid at a meeting about it. That's how dangerous it is. He's still in office, didn't die from drinking it straight.

"Possible carcinogenic cocktails" Oh? WHAT possible carcinogenic coctails, NAME them. You can't because you are making it up.

Wild claims, no evidence. It is the same with all arguments against fracking. Hundreds of gallons of fracking fluid was spilled near Parachute, Colorado last year. It froze into a waterfall and was there for the taking for weeks.

What evil things were in the fracking fluid? No one seems to know, even though anyone could have sampled and analyzed the "secret" liquid.

Wild claims, no evidence. Over one million wells fracked with no harm done.

If you've got evidence, let's see the cases.

The EPA has filed 3 lawsuits against fracking companies, and all were thrown out without getting to court because during discovery it was discovered there is NO evidence of harm.

The real question is: What is the hidden agenda of the lying anti-frackers?


Post Comment

Only logged in users are allowed to post comments. Register/ Log in