May 16, 2011
Investigative journalism nonprofit ProPublica along with students from New York University have come out with a music video on hydraulic fracturing, more commonly called fracking. Fracking, invented by Halliburton (NYSE: HAL ) in the 1940s, is a process of fracturing rocks with water, sand, and other additives to increase the recovery of oil and gas.
Fracking has become controversial in more ways than one. Companies have not been disclosing the chemicals used in fracking fluids. This is controversial because many believe that fracking fluids then make it into the water supply, poisoning the water. Also, some studies now show that fracking is not emission free as previously thought.
Because of these findings, the government and concerned citizens have been taking action. Fracking resolutions have been finding their way onto the proxies of ExxonMobil (NYSE: XOM ) and Southwestern Energy (NYSE: SWN ) among others. In September 2010, the Environmental Protection Agency requested information on the chemicals used by nine companies, including Complete Production Services (NYSE: CPX ) , Weatherford International (NYSE: WFT ) , and Patterson-UTI Energy (Nasdaq: PTEN ) .
Now, students from NYU and ProPublica have come out with a music video to make the case for more protections of U.S. drinking water. Enjoy.