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EOG Says U.S. Fracking Rule to Cost $1.5 Billion a Year

Bloomberg Businessweek -- The Obama administration’s plan to tighten regulation of hydraulic fracturing for natural gas on public land may cost more than 20 times U.S. estimates, energy companies and local governments said.

EOG Resources Inc., the top oil producer in a Texas shale formation, and officials from Wyoming and Utah cite a study by John Dunham and Associates that said it will cost $253,839 per well to meet the proposal for disclosing chemicals being used and certifying the well is isolated to avoid leaks. The Bureau of Land Management estimated costs at $11,833 per well.

“The proposed rule is unnecessary, excessive and requires actions that no state currently regulating oil and natural gas production deems necessary,” Eric Dille, government affairs director for Houston-based EOG, said ...


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Submitted Sep 08, 2012 By: BurntOrange
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: EOG Says U.S. Fracking Rule to Cost $1.5 Billion a Year Back to Topics
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remay
Champion Author Houston

Posts:10,125
Points:2,929,840
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Message Posted: Sep 10, 2012 6:36:47 AM

Maybe the Bureau should do the work and CHARGE for it, since the know how much it will cost. 12K is a bargain compared to 254K.
jrs4125
Champion Author Indiana

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Message Posted: Sep 10, 2012 5:13:16 AM

I don't think so.
drpepperTX
Champion Author Texas

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Message Posted: Sep 9, 2012 2:31:55 PM

@ ebill who says below that it's a fact that water is contaminated, you couldn't be more off base. I'll repeat my earlier post as obviously you have fallen victim to fear and paranoia.

As more and more SCIENTIFIC studies are added to a growing list of studies showing the safety of hydraulic fracturing, the science denial crowd will overlook the science and continue to promote fear. Yelling "the water's on fire etc.".

They'll continue to chant the thoroughly debunked claims of Josh Fox "Gasland" propaganda.

No disclosure of fracturing fluid?? WRONG again... Just take at look around the site www.fracfocus.org, it's ALL right there for the world to see.

And the latest from the purveyors of fear? Insurance!!! Aha, this will be the nail in the trackers coffin! Oh wait...."Fracking-related losses have never been a covered loss under personal or commercial lines policies." - Nationwide Insurance Co.

So now it's water use eh? As each aspect of the witch hunt against oil and gas production is knocked down by science these yahoos will come up with something else out of the blue. Show me one state where oil and gas comapanies use more than a tiny fraction (far less than 1%) of the total water usage. While your at it show me a state that doesn't allow golf courses to use hundreds of times more water than drilling. You cannot, case closed. 

You see, there is a huge amount of deceiving information spouted out to the public about hydraulic fracturing, a decades-old technology. Those who spread this misinformation are mostly preying on the public's fears, with an ultimate goal of forcing state governments to succumb to that fear and prevent or even ban hydraulic fracturing. We need to make sure that the discussion is productive, and that any rules are legitimately conceived. Fact must be sEPArated from fiction.

The most common claim talking point is that hydraulic fracturing contaminates ground water. This is baseless. Have you ever noticed that the critics who make that claim never provide concrete evidence? The reason for their omission? It is obvious why. After being used more than 1.2 million times there have been no confirmed cases of hydraulic fracturing contaminating water. None. Never. Ever.

As EPA Administrator Lisa Jackson said in April of 2012, "In no case have we made a definitive determination that the fracking process has caused chemicals to enter groundwater." 

The three "smoking gun" cases that the anti-shale zealots were sinking their teeth into have proven false or based on very poor science. See Pavillion WY, Dimoch, PA, and Parker County, TX.

The latest fear mongering is "climate change" thru methane emission from hydraulic fracturing. Once again SCIENTIFIC investigation has shown the EPA using numbers that are overblown  by 50%.

Oh and the "evil Halliburton Loophole" talking point! LOL, what a joke. This is the errant claim born out of the yellow journalism of "gasland", a proven fraudulent film by Josh Fox, that hydraulic fracturing is "exempt" from the Safe Drinking Water Act, thanks to an energy bill passed by Congress in 2005. The truth??? SDWA has been the law of the land for nearly 40 years, and at no point has it ever covered hydraulic fracturing. Why??? States already tightly and effectively regulate the process. 
drpepperTX
Champion Author Texas

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Message Posted: Sep 9, 2012 2:23:30 PM

Yes TustiDad, the proprietary information is included, they are only relieved from stating the specific amount used, that is what is 'proprietary'. Just like Coca-Cola or any other recipe, all ingredients are known, only ratios are 'trade secret'.
TustinDad
Champion Author Orange County

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Message Posted: Sep 9, 2012 12:25:43 PM

drpepperTX wrote: "No disclosure of fracturing fluid?? WRONG again... Just take at look around the site www.fracfocus.org, it's ALL right there for the world to see."

But does that list disclose the proprietary chemicals that, by law, do not need to be disclosed? I kind of doubt that.
LetemEatCake
Champion Author Oklahoma City

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Message Posted: Sep 8, 2012 10:55:59 PM

Malarkey! I think somebody is full of it! Disclosing the chemicals used in fracking costs virtually nothing! Other companies have already done that....did we hear any sum of money whined about?

[Edited by: LetemEatCake at 9/9/2012 12:56:44 AM EST]
rjoeh
Champion Author Michigan

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Message Posted: Sep 8, 2012 10:22:28 PM

Sounds normal for the Obama Administration to grossly under estimate costs to companies and individuals just like Obama Care.
judgemobile
Champion Author Ohio

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Message Posted: Sep 8, 2012 10:09:18 PM

get the dang government out of the private sector--VOTE FOR ROMNEY AND RYAN.
rahcat
Champion Author Grand Rapids

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Message Posted: Sep 8, 2012 10:07:28 PM

Obama and the EPA.......Get out of the way!
tutaw
Champion Author Kentucky

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Message Posted: Sep 8, 2012 10:02:13 PM

ok
shores4now
Champion Author Kentucky

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Message Posted: Sep 8, 2012 10:01:35 PM

Ok
Beaveronparade
Champion Author Hartford

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Message Posted: Sep 8, 2012 9:59:42 PM

Another reason for gas to go up?
Ahking
Champion Author Orange County

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Message Posted: Sep 8, 2012 9:59:24 PM

If they know what to buy, they can report without much effort unless there are unsavory substances.

Safe guarding our water supply should be done in a preventive manner. When contamination is detected, it will be too late.
Number43
Champion Author Lexington

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Message Posted: Sep 8, 2012 9:57:06 PM

Drill baby drill.
Number43
Champion Author Lexington

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Message Posted: Sep 8, 2012 9:56:34 PM

The fools at the sierra club have taken over america.
nimpy
Champion Author Indianapolis

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Message Posted: Sep 8, 2012 9:56:19 PM

A reason to increase the price
Number43
Champion Author Lexington

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Message Posted: Sep 8, 2012 9:55:25 PM

OBUMMER JUST CAN'T COUNT.
DustyHorse
Champion Author Virginia

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Message Posted: Sep 8, 2012 9:54:33 PM

The Obama administration hates all fossil fuels.
fenster66
Champion Author Pittsburgh

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Message Posted: Sep 8, 2012 9:53:57 PM

ok....
trytogetby
Champion Author Cincinnati

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Message Posted: Sep 8, 2012 9:52:29 PM

All righty then.
Z51Corvette
Champion Author Austin

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Message Posted: Sep 8, 2012 9:52:09 PM

More political rhetoric to make it difficult to produce a product. Liberal Democrats don't care how much it costs the American taxpayer... Truly!!! Don't drink the Tree Huggers and Socialist's Kool Aid!
nigelb
Champion Author Virginia

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Message Posted: Sep 8, 2012 9:51:53 PM

Fracking need to be closely monitored if we have any chance to keep our water clean.
96sc1
Champion Author El Paso

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Message Posted: Sep 8, 2012 9:51:50 PM

Only 20 times U.S. estimates? Not a record.
Red7002011
Champion Author Mississippi

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Message Posted: Sep 8, 2012 9:51:09 PM

Really!
SalukiCO
Sophomore Author Colorado Springs

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Message Posted: Sep 8, 2012 9:50:43 PM

Oh well. Don't expect them to stop. They will just ignore it and pay a $12 fine.
rf6480
Champion Author Miami

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Message Posted: Sep 8, 2012 9:50:19 PM

more regs to cost both in taxes and jobs
jrsva
Champion Author Virginia

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Message Posted: Sep 8, 2012 9:49:05 PM


Studies underwritten by the oil and gas industry claim that it will be too expensive to do the job carefully and safely. Does this surprise anyone? Disclosing the chemicals used and assuring that the well bore is properly sealed to prevent leakage into groundwater are basic, minimal requirements.
rozellep2
Veteran Author Illinois

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Message Posted: Sep 8, 2012 9:46:46 PM

mmm
boldrph
Champion Author Topeka

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Message Posted: Sep 8, 2012 9:45:24 PM

industry shill
mfeldstein
Champion Author Ottawa

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Message Posted: Sep 8, 2012 9:45:16 PM

Good. Obama being the man he is, I'm sure he'll give all of this revenue to the poor.
Blue48
Champion Author Illinois

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Message Posted: Sep 8, 2012 9:42:10 PM

OK!
RoadKing95
Champion Author San Jose

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Message Posted: Sep 8, 2012 9:41:46 PM

Hmmm. Do I trust what Enron has to say? Do you?
Sounds self serving to me. But I'm sure Romneyhood would buy into it.
goldrose1
Champion Author Cleveland

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Message Posted: Sep 8, 2012 9:40:09 PM

We need water on surface, not pumped underground. Sure that influenced this year's drought.
toadNY
Champion Author Albany

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Message Posted: Sep 8, 2012 9:33:25 PM

Do You eibli? Do you know All the real Fact's? I know I don't.
skyking19
Champion Author Little Rock

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Message Posted: Sep 8, 2012 9:32:37 PM

Get out and VOTE!
Goody2317
All-Star Author Wilmington

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Message Posted: Sep 8, 2012 9:32:14 PM

Ok.
mcmonsta
Champion Author Honolulu

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Message Posted: Sep 8, 2012 9:32:07 PM

again its who pays for the study and what they base it on.
mrinmoyd
Champion Author Illinois

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Message Posted: Sep 8, 2012 9:31:51 PM

change it
SammyAdams
Champion Author Tallahassee

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Message Posted: Sep 8, 2012 9:31:49 PM

To: EnergyEngineer Re: Message Post: Sep 8, 2012 10:13:32 PM (Printed below)

"It's either we get our energy from this country or we continue sending 700 billions dollars a year overseas for energy. The government wants energy to come out of thin air, they also want to make doing business in America impossible. It isn't that hard for corporations to set up shop in other countries to escape the bureaucracy that is the U.S. government, until people realize this this country will continue on a downward slope."

==============================================================

That seems to be the plan, EnergyEngineer. BO is on a deliberate quest to destroy the American middle class which is evident in every policy that his administration advances.

Note from the article: "The proposed rule is unnecessary, excessive and requires actions that no state currently regulating oil and natural gas production deems necessary . . "

The STATE is where the authority for any regulation should emanate, NOT BO, NOT the EPA, NOT any agency within the Federal government, but the various states have the reserved authority to determine what is best for their citizens. Many states are asserting this authority on a myriad of issues and 2013 will be a test to see if we can survive as a nation. Get involved with the TenthAmendmentCenter.com and be a part of a REAL CHANGE.
papa56NC
All-Star Author North Carolina

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Message Posted: Sep 8, 2012 9:31:44 PM

Come on now
serrog
Champion Author Nova Scotia

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Message Posted: Sep 8, 2012 9:31:31 PM

Cheap if you lose your water
bonzoonfmb
Champion Author Florida

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Message Posted: Sep 8, 2012 9:29:57 PM

Let the states handle their own regulations.
nsdp
Champion Author San Antonio

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Message Posted: Sep 8, 2012 9:22:53 PM

I would take this with a large bit of salt. Remember EOG was originally ENRON Oil &Gas. As to drilling costs the extra cost will be minimal if they do it right the first time and don't cut corners. This is just like the old Amoco hands I worked with cutting corners on safety. BP bought Amoco and old Amoco employees were in charge of drilling Macondo and the "BP" refinery fire at Texas City. No wonder they are complaining they will have to do things right.
carloco75
Champion Author Richmond

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Message Posted: Sep 8, 2012 9:22:28 PM

That's all...
geoutpb
Champion Author Midland Odessa

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Message Posted: Sep 8, 2012 9:22:16 PM

Oil will only have to sale for more.
WeasleyOC
Champion Author Orange County

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Message Posted: Sep 8, 2012 9:17:32 PM

Obummer invoked in this?
MadTraveler
Champion Author Idaho

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Message Posted: Sep 8, 2012 9:15:39 PM

Leave it to government to screw us over and over again.
mrbee
Champion Author Little Rock

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Message Posted: Sep 8, 2012 9:12:46 PM

We really need change.
BoerneWatch
Champion Author San Antonio

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Message Posted: Sep 8, 2012 9:09:35 PM

No, no, NOOOO!!!

Get the feds out of my state's ground.

Fire that Marxist!

Let him and Jimmy Carter build some homes for humanity together.
planoiceman
Champion Author Dallas

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Message Posted: Sep 8, 2012 9:07:59 PM

Obama increasing costs again? What a surprise.

If you haven't seen the movie "2016: Obama's America", go see it. It explains a lot about our current president and what we could seein the next 4 years.
kellyoneal
Champion Author Louisville

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Message Posted: Sep 8, 2012 9:07:08 PM

BHO needs to go!!!!!!!!!!!!!
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