This is outrageous, what is Obama thinking or trying to prove
The Bureau of Land Management estimates that increased fracking regulations will cost an estimated $11,833 a well. EOG's independent engineers suggest the cost will be $253,839. That's $242,006 more per well then BLM suggests. That's a lot! The result will be that a number of wells, if not entire fields, will not be drilled. The cost/risk/profit ratio is just not reasonable.
Sunday, September 9, 5:17 AM Complying with tighter fracking regulations on federal lands will cost $253,839 per well, says EOG Resources (EOG), Wyoming and Utah, citing a study from John Dunham & Associates. That's well above the $11,833 that the Bureau of Land Management estimates, and would cost natural gas producers a total of $1.5B-$1.62B a year.
The main ingredient in fracking fluid today is water followed by clay products and the guar gum. They use it to make ice cream. There were lots of problems years ago but the percentage of problem wells today is under .001. Those well owners are compensated. Remember about 99% of oil/gas wells are over 1/2 mile from a domestic water well.
Sounds like more politics to me. The formulation of the new proposed rules started almost 4 years ago. The rules have not been written in final from yet, but sure looks like BLM is saying no big deal and EOG has a very different view. Same garbage - different day. Time will tell what happens when the final rules are put in place.