Department Of Environmental Conservation Holds Hydro Fracking Hearing

Good news for gas drillers! A few days before the Environmental Protection Agency announced that it will neither finalize nor seek peer review of its investigation of the impact of hydraulic fracturing on groundwater at an Encana-operated field near Pavillion, Wyoming, The United States Geological Survey announced that it had found naturally occurring methane in two of 20 randomly-selected wells tested in Sullivan County, Pennsylvania. “None of the wells tested were located near currently producing natural gas wells.” [EPA, USGS]

On the other hand, a new PIRA study out today suggests that US LNG exports will increase US natural gas price volatility, and that volatility will rise as export capacity grows. “Much of the natural gas market’s attention is focused on how Henry Hub gas pricing will influence the world once LNG exports begin. An equal, if not greater, concern should be placed on how gas markets in the rest of the world will affect Henry Hub pricing.” [PR Web]

And in news that combines the positive and the negative, climate change creates a new industry worth $blns:

Severe weather events, such as Superstorm Sandy in 2012, and the damage they have inflicted on cities and outlying areas have prompted the creation of a new school of design: extreme weather architecture. “The emerging class of architecture suggests the onset of a global design-and-construction industry worth tens of billions of dollars in the coming years.” [Quartz]