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API’s Jack Gerard on the continued debate about the safety and environmental impact of the drilling technique.
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Hello there is a natural gas boom across the country for example we brought -- the story of Williamsport Pennsylvania.
No longer just the home a Little League World Series don't know it's now a bustling energy market a Boomtown and facts.
However valmont wants no -- it last night it just became the very first state to ban fracking.
That's the method extraction.
Gas joining us now is Jack to rob -- of the American Petroleum Institute I got this right Jack that there is now a total ban on fracking -- that's a certain way of getting natural gas out of shale -- deep underground the long has no you cannot do it period is that right.
-- it is right -- is very unfortunate the hydraulic fracturing as it's known is our latest technology that's allowed us to develop these Vasco elementary gas resources.
Right here in the United States we've been using this technology for over 65 years we've drilled one point two million wells.
And there has never been a case of ground water contamination as a result of hydraulic fracturing but what you see is a lot of nonsensical political rhetoric in a place like Vermont.
It's a little like is Governor Christie in New Jersey said to be like banning -- telephone -- -- in New Jersey.
It's totally irrelevant we haven't found any gas.
But it's just an overreaction.
Oversimplification.
Of great technology that's allowed us -- a nation to become more energy secure.
Now there is criticism.
That when you do this fracking process.
You pump water in got some chemicals in it and that it comes out of the ground when it comes out of the ground.
They say it is contaminated.
And he got to have these huge holding tanks rather dirty -- and -- and they object of -- what you common.
Well the reaction is -- is someone who object to a lot of things -- dealing with fossil fuel production.
You'll notice or new campaigns out there that not only argue we should get off oil.
They are now new campaigns by the Sierra Club and -- suggesting we should get off natural gas today 62%.
Of all the energy we consume in the United States.
Is oil and natural gas.
And our own economists at the federal government level president Obama's economists will tell you.
The thirty years from now 55%.
Of all the energy we consume.
Will still be oil and natural gas.
These technologies have been demonstrated to be safe to protect the environment to protect our workforce.
And so what you see is those who object fundamentally to this production will find whatever way they can to make some argument in many cases unfounded.
To suggest we shouldn't produce -- we are compliant.
With all environmental laws the states regulate this very rigorously as they should.
-- -- were allowed to produce our own energy.
Jack up got 22 -- for you to answer a question a lot about viewers asked this all the time.
Oil comes down sharply gas prices don't come down as sharply.
Giving an explanation.
The gas prices not only moving down the price of gasoline but it will continue to follow the downward trend in crude oil you might see a short lag because of what they've purchased to put an inventory.
That it will follow the price of crude oil now that's just a matter of time all right Jack -- API effects are much for joining us Jack -- -- against sooner trust thank -- is they're good at talking SO.
