NYT: Marcellus Fracking Has Markings of Ponzi Scheme

Ian Urbina reports in The New York Times that gas companies may be overstating the productivity of their wells and the size of their reserves in order to lure investors, with one drilling research firm even referring to shale drilling investments as “giant ponzi schemes.” The result could be more wells, and more environmental damage. “If shale gas wells fade faster than expected, energy companies will have to drill more wells or hydrofrack them more often, resulting in more toxic waste.’

Meanwhile, Associated Press writer Kevin Begos covers the growing interest by sportsmen’s groups in the potential problems with fracking, particularly in the Marcellus shale in the eastern US. “There has been considerable public debate over how and if fracking impacts drinking water supplies, but Dufalla and other sportsmen are worried that even low concentrations of fracking chemicals may affect aquatic invertebrates — the tiny water bugs that grow into mayflies and stoneflies, which are in turn eaten by fish and birds.”