Commentary: Fracking not worth risk in Florida
As veterans of the oil and gas industry and beneficiaries of the superb environmental conditions of South Florida, we support a ban.
Given the environmental and economic risks to Florida, one would think that there must be an urgency to extract this oil and gas, or at least a substantial profit to be made from doing so.
Where fracking is currently in use, it is typically where there are proven reserves, allowing the operator to recover more reserves, with better economies of scale.
Fracking can produce oil or gas.
Therefore, transportation cost will reduce the economic value of reserves — and burden our roads with potentially harmful truck traffic and additional demands for development in the Everglades.
(When “associated” gas is extracted with oil in a region without gas pipelines, like Florida, the gas is flared and completely wasted, contributing to climate change.)
This isn’t currently true in Florida — and it is doubtful whether the quality and quantity of reserves in Florida would attract responsible exploration contractors who could afford those risk costs.
There is no national demand for additional oil and natural gas at this time.
Should we risk Florida’s tourist and environmental future without any overriding need or demand?
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