31 Jul '13, 7pm

$100 million worth of natural gas goes up in flames every month in North Dakota

Remote well locations, combined with historically low natural gas prices and the extensive time needed to develop pipeline networks, have fueled the controversial practice, commonly known as flaring. While oil can be stored in tanks indefinitely after drilling, natural gas must be immediately piped to a processing facility. Flaring has tripled in the past three years, according to the report from Ceres, a nonprofit group that tracks environmental records of public companies. “There’s a lot of shareholder value going up in flames due to flaring,” said Ryan Salmon, who wrote the report for Ceres. … Roughly 29 percent of natural gas extracted in North Dakota was flared in May, down from an all-time high of 36 percent in September 2011. But the volume of natural gas produced has nearly tripled in that timeframe to about 900,000 million cubic feet per day, boosting flaring in t...

Full article: http://grist.org/news/100-million-worth-of-natural-gas-go...

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