Fracking’s Thirst for Water: Investors Warned of the Hidden Financial Risks
- info2824713
- Feb 9, 2014
- 1 min read
In dozens of water-scarce counties where fracking is booming, water use is at or approaching more than a billion gallons a year.
Feb 5, 2014
Drilling for natural gas on the Pinedale Anticline in Wyoming/Credit: Ecoflight
Some of the nation’s driest, drought-plagued places have quickly become its busiest hot spots of drilling for shale gas and oil, especially in Texas, Colorado and California.
It’s a dust-bowl-sized problem likely to become worse, according to a study released Wednesday by the nonprofit sustainability advocacy group firm Ceres. Fracking, the controversial drilling technique, is consuming billions of gallons of water each year in states where water is increasingly scarce. The report warns that investors need to demand information about how energy companies are managing this problem or risk their investment portfolios being clobbered.For the remainder of this story please click through to Inside Climate News: http://insideclimatenews.org/news/20140205/frackings-thirst-water-investors-warned-hidden-financial-risks