New York’s Cuomo May Lift Ban on Natural Gas Drilling

Bloomberg reported that New York’s moratorium on drilling for natural gas may be lifted for some counties as early as September. If the state’s governor, Andrew Cuomo, follows through, horizontal drilling and hydraulic fracturing could be undertaken at the Marcellus shale.

As quoted in the market news:

In announcing the decision, rumored to be coming in September, Cuomo, a Democrat, will probably unveil new rules for drilling. Here is where the rest of the country will want to pay attention. As it makes a fresh start in the gas business, New York has the opportunity to be a model for all states that want to reap the economic benefits of the natural-gas boom without endangering the air and water.

One underlying aspect of these regulations — which will cover everything from drilling and well construction to wastewater disposal — is especially important to get right, and that is transparency. The state needs to not only demand clean operating procedures but also require that all companies involved with drilling let the public know what they are doing and when, and what chemicals they are using to do it.

Click here to read the full Bloomberg report.