GLOBAL CLIMATE DEBATE

Chu Opposes Ban on Hydrofracking

Energy Secretary Steven Chu is weighing in on natural gas drilling.

Speaking to reporters on Friday, the secretary said increased supplies and lower prices from U.S. shale plays might be bad news for nuclear power and renewables, but they could help the overall domestic energy and climate picture.

Chu called on the Senate to pass cap-and-trade legislation, saying it's important for that to happen this year.  However, he did not say how the government might work to reduce greenhouse gas emissions if the bill doesn't pass.

Chu says if the price of natural gas remains low, it could crowd out investment in alternative energies, but he also says it has the potential to displace coal as the nation's top source of fuel for electricity.

The secretary also opposes a ban on hydrofracking -- a drilling technique where a high-pressure mix of water and chemicals are injected into the ground to break up the rocks that hold natural gas.

"I think it can be done responsibly, and the EPA and other agencies will be looking to ensure it's done safely and responsibly," Chu said. "If it can be extracted in an environmentally safe way, then why would you want to ban it?"

The proposed merger between Exxon Mobil and XTO could fall through if Congress decides to ban hydrofracking.

Source: Wall Street Journal

Source: The Hill

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