UPDATE

I saw this article on the Columbus Dispatch today, and I felt like the record needed updated to show this new study. This is an oil-industry study; therefore, there is the usual squabbling over whether this report is realistic or hopelessly biased. Either way, it seems certain money and industry will be coming into Ohio as a result of this fracking.

http://www.dispatch.com/content/stories/business/2011/09/20/oil-gas-industry-could-boom-in-ohio.html

OUTLINE

oops -- I realized I posted this earlier in a comment instead of a post. Here is going to be my section:


My section will focus on Ohio. In light of the technique and safety concerns, is it good public policy for Ohio?

I. What is Ohio’s regulatory framework and safety record?
II. What are the risks to Ohio?
III. What is the economic impact to the state (tax revenue, jobs, royalties, local supply, etc)?

Conclusion

Developing Story -- Fracking and Earthquakes?

England has temporarily shut down fracking efforts, suspecting that fracking produced two small earthquakes. More conclusive results are eagerly awaited. It's a pity this couldn't have happened a few weeks ago, so that we'd have a bit more to say. Nevertheless, I expect to give this a paragraph or two in my report:

http://www.thestar.com/business/article/1000638--shale-gas-fracking-halted-in-uk-amid-earthquake-fears

Updated Outline for First Section

Here is the (hopefully) final outline for my section of the paper.

EPA Fracking Study Plan Draft

The EPA (in typical government fashion) still has not completed a study on fracking and its effect on water supplies. They do, however, have a plan for an initial study that will be completed by 2012. I found it most useful for its description of the fracking process as well as the types and locations of uncvonventional natural gas fields that fracking is used in. It deals extensively with the environmental impact of fracking, but its unfinished nature may make it difficult to use as a resource on that subject.

EPA Study Plan

NYT Article on Fracking

Here's a NYT article on fracking for shale oil. It is extremely bullish on the issue and only briefly mentions possible environmental hazards. It gives a very good look at the economic possibilities that fracking opens up. Companies estimate that the boom this fracking will set off will add two million new jobs, and bring tens of billions of dollars to the states where the fields are located (one of which is Ohio). It also brings up the possibility of increased energy independence. Yergin is quoted as saying that "this is like adding another Venezuela or Kuwait by 2020, except these tight oil fields are in the United States."

Shale Boom in Texas Could Increase U.S. Oil Output

By CLIFFORD KRAUSS

CATARINA, Tex. — Until last year, the 17-mile stretch of road between this forsaken South Texas village and the county seat of Carrizo Springs was a patchwork of derelict gasoline stations and rusting warehouses.

OOGA Presentation

The link below will take you to the Ohio Oil and Natural Gas presentation

http://www.umich.edu/~twod/oil_osu/ooga_fracking_interview_may11.pdf