As American anti-drilling passions run hot thanks to BP’s gulf oil disaster, environmental groups have been taking advantage of the momentum to attack U.S. land-based shale gas drilling. You may recall that shale gas technology offers to deliver vast amounts of cheap, domestically-produced natural gas to the U.S..
A controversial documentary, Gaslands, which was aired on television channel HBO this week, shows one Colorado homeowner bending over his tap, holding a lighter with outstretched arm and igniting his chemical-laden water.
The gas industry has naturally rebutted the video, claiming factual errors and blaming isolated mistakes on the bad practices of only a few companies. Thing is, after BP’s crisis, even logical arguments for shale gas drilling might fall flat with American voters.
Note: The author owns shares in Chesapeake Energy (CHK) a shale gas-related company, and investors he speaks with may own securities related to the industry.