01 Apr '12, 11pm

Investors: No More Flaring of Fracked Oil and Gas in Bakken Shale

We are a group of 37 investors, representing $500 billion in total assets, who areconcerned about the financial risks associated with the flaring of natural gas that has accompanied fast-proliferating oil production from shale formations in North Dakota, Texas and elsewhere in the U.S. We are concerned that excessive flaring, because of its impact on air quality and climate change, poses significant risks for the companies involved, and for the industry at large,ultimately threatening the industry’s license to operate. As you know, shale oil production, made possible by hydraulic fracturing technology,…is poised to become the world’s largest oil producer in the next five years, with nearly all of this projected growth coming from shale oil. … On a lifecycle basis, emissions from oil produced with high flaring rates may be comparable to those from Canada’s vast oil sands re...

Full article: http://www.desmogblog.com/investors-no-more-flaring-frack...

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