GDF – Shale Drilling and the Environment

GDF voices a need for improvements before development and hydraulic fracturing move forward in Europe. I’m not sure if the CEO is saying fracking actually needs to improve or if the understanding of the technology and application needs to improve.

The technology used to extract oil and gas from shale rocks, a process that has revolutionized the U.S. energy industry, should be improved to protect the environment, the head of Europe’s largest gas company said.

“There are concerns about the environmental impact,” Gerard Mestrallet, chief executive officer of GDF Suez (GSZ) SA, said in an interview at Bloomberg’s headquarters in New York. “Probably it can be improved and probably it has to be improved.”

Hydraulic fracturing, a technique that uses water, sand and chemicals to break apart rocks and release trapped fuel, has made the U.S. the world’s largest natural gas producer. That success hasn’t quelled concern that fracking, as the process is known, risks polluting drinking water.

Read the full news release at bloomberg.com

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.

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