The Traderszone Network

Published in TZ Latest News 20 March, 2015 by The TZ Newswire Staff

U.S. sets first major fracking rules on federal lands

The Obama administration on Friday unveiled its first major standards for oil companies that frack on federal lands, including beefed-up safety measures to protect groundwater, prompting industry complaints they will be a barrier to growth. The rules require energy companies to reinforce boreholes and otherwise prevent leakage and provide data on the cocktail of chemicals that helps extract crude oil and gas out of the ground. Hydraulic fracturing, or fracking, a controversial process that involves pumping water, sand and chemicals into a well to extract oil or gas.

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