Thursday, June 30, 2011

Questioning The Economics of Fracking, the Destroyer of Food Security and Water Reserves

It is destroying our good farming land and water reserves and now the economics of Fracking or Coal Gas Seam Mining is also being called into question.

A recent article in The New York Times stated that many successful wells are not producing the amount of gas anticipated making the initial predictions harder to achieve.

If these original predictions are not met and the costs of extracting the gas continues to rise not only will investments in this industry falter but the consumer will be paying increased costs for its products.

One email sent to The New York Times states “The word in the world of independents is that the shale plays are just giant Ponzi schemes and the economics just do not work.”.

As countries around the world jump on the Fracking Bandwagon lives, water and good farmland are being destroyed for quick financial fixes.

At a time in history when the planet is at its most fragile toxic chemicals are being pumped into our precious earth at an alarming rate.

With water shortages predicted for our future a million gallons of water are being used for each well and much of that water is contaminated by the process.

Valuable water reserves are fast being destroyed along with precious farmland.

Many areas being mined are rich food producing areas, sites of future food security that will never be the same again.

The Australian government is arguing over a carbon tax while allowing toxic chemicals to flow freely through its most valuable land.

Odorless methane gas and now we are also learning radiation once safely stored deep within the earth are also side products of this mining.

While governments talk up the  benefits of the coal gas seam mining industry the economic viability of this industry is now in question.

In France already a moratorium on Coal Seam Gas Mining is in place.

Let's hope other governments around the world wake up and work out their `REAL' priorities before our planet is damaged beyond repair.


The Sage Butterfly said...

This is very interesting...and so upsetting. I, too, hope governments and industry begin to make better choices.

Lynda @ {ubersavvy} said...

Coal Seam gas is a very real and current issue here in Queensland, Australia. Mining companies have already been questioned by farmers nearby who have water quality compromised. Unfortunately governments here are not asking the hard questions..perhaps the money is too enticing. Thanks you for the post. You maybe interested in the work of artist Sophie Munns- she works with seed projects and often blogs about issues affecting our sustainability.

Missy said...

I find the reports I see on the news of people's farms being "invaded" by these companies horrifying.

I am said...

Queenslanders can sign a petition 1883-12 at under current epetitions. It calls on the Queensland Parliament to put in place a 12 month moratorium on coal seam gas projects.