Fracking In New Jersey - New York News

Fracking In New Jersey

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Newark, New Jersey (My9NJ) -

Hydraulic Fracturing is a newer form of getting fossil fuels out of the ground.  It’s called an unconventional form of drilling, because it isn't extracted the way oil wells have been set up in the past.  Horizontal drilling and Fracking aims to extract oil and gas from rock formations that were not economic to extract using conventional methods (ie: vertical drilling). 

First a company sets up a drill that goes thousands of feet straight down, than it sends a blast of pressurized water and chemicals horizontally to crack up the rocks and then like a vacuum, extracts the natural gas.

Here in Jersey, we have just discovered a large shale gas reserve called the "Newark Basin."  So what does that mean for New Jersey? 

Economist, and founder of Energy Policy Forum, Deborah Rogers explained that the Oil and Gas industry's economic portfolio is not as profitable as it is made out to be.  Even quoting energy officials themselves, like John Hofmeister, former Chief of Operations, Royal Dutch Shell who said, "to sustain growth, companies will need to drill many wells at a rate beyond the capacity of the industry as currently defined...those who ballyhoo oil shale and say this will take care of us - no, it won't."

Deborah also explained the misleading job growth numbers surrounding the shale gas boom. She said, "In 2011 oil and gas accounted for 181,000 direct industry jobs, whereas 183,200 direct industry jobs were created for renewables.  So based on a jobs per kilowatt scale, renewables are providing significantly more opportunity and creation.”

The U.S. Geological Survey, Post Carbon Institute, has just said, "Based on actual production, reserves have been overestimated by a minimum of 100% and as much as 400-500%." 

So, is it worth it for New Jersey to Frack?

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