This document discusses hydraulic fracturing (fracking) and debates around its environmental and economic impacts. It covers topics like the technical process of fracking, potential issues like water contamination and air pollution, benefits for energy production and jobs, and policy options for regulating the practice. Critics argue fracking can harm the environment and public health if not properly managed, while proponents say it can provide economic gains if risks are addressed through rules and safeguards. The document examines these various perspectives on the risks and rewards of increased shale gas development through hydraulic fracturing.

1. Robert Sittman
Christopher Conway
Guadalupe Candanedo
Einav Henenson
Justin Pfledderer

2. commercial
http://youtu.be/X8du6pQbvyo

3. 2005 Energy Act
Advances in the HF process
Chemicals

4. Enormous potential for both the economy and the
environment
Jobs!!!
Greenhouse gas advantages
National security benefits
Lower costs to consumers
A safe process

5. What the Frack?

6. Land
Water
Air

7. Intragenerational inequality-
certain people suffer while
others benefit
Intergenerational inequality-
contaminated water
resources for the future
Interspecies inequality–
animals are harmed

8. Social Marginal Cost
$ Private Marginal Cost
$*
Marginal Damage
Marginal Benefit
Q* Q

9. Environmental damage
Technical advances
Policy design and evaluation
Cost of policies

10. Pass the 2012 Frac Act
Technological based performance standard
Performance bond
Quasi option value

12. References
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 Arthur, J.D. (2008, September 21). Hydraulic Fracturing Considerations for Natural Gas Wells in Marcellus Shale. Presented to The Ground
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 Retrieved from http://www.huffingtonpost.com/robert-l-cavnar/responding-to-the-hydraul_b_820215.html

 Chesapeake Energy (2010). Natural gas Water Usage Facts. Retrieved from: http://www.hydraulicfracturing.com/Pages/information.aspx

 Environmental Protection Agency. (2004). EPA Study on Hydraulic Fracturing. Retrieved from
http://www.epa.gov/ogwdw/uic/pdfs/cbmstudy_attach_uic_ch07_conclusions.pdf
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
 Kerr, R. (2011, August 11). Federal Committee: Shale Gas Needs Openness, Better Data. Science Insider
http://news.sciencemag.org/scienceinsider/2011/08/federal-committee-shale-gas-need.html?ref=hp
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Publica: Journalism in the Public Interest. Retrieved from
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

13. References
 Montgomery, C. & Smith, M. (2010, December). Hydraulic Fracturing: History of an Enduring
 Technology. Journal of Petroleum Technology (Society of Petroleum Engineers) 62 (12): 26-32

 Nadar, L. (2010). The Energy Reader. Malden, MA: Willey-Blackwell Publishing
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 Nelson, P. (2011, July 18) Resources for the future. RFF Launches New Initiative on Risks and Regulations of Shale Gas. Retrieved from:
http://www.rff.org/News/Press_Releases/Pages/RFF-Launches-New-Initiative-on-Risks-and-Regulation-of-Shale-Gas.aspx

 Rubinkan, M. & Caruso, D. (2011, April 12). Fracking Shale for Gas brings Wealth, Concerns. The Huffington
Post.http://www.huffingtonpost.com/huff-wires/20110412/us-gas-drilling-impact/

 Urbana, I. (2011, February 26). Regulation Lax as Gas Wells’ tainted water Hits River. The New York Times.
http://www.nytimes.com/2011/02/27/us/27gas.html?_r=1&hp
 Walsh, B. (2011, March 31). Could Shale Gas Power the World. Time Magazine. Retrieved
from:http://www.time.com/time/health/article/0,8599,2062331-4,00.html
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 Wilson, W. (2007, October 4). Letters from EPA Fracking Study Whistleblower. Earthworks: Protecting Communities and the Environment.
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 Wiseman, H. J. (2008, September 23) Untested Waters: The Rise of Hydraulic Fracturing in Oil and Gas Production and the Need to Revisit
Regulation. Fordham Environmental Law Review. Vol 20. P. 115, 2009. SSRN: http://ssrn.com/adstract=1595092