TV News LIES

Friday, Aug 26th

Last update05:20:13 AM GMT

You are here News Environment U.S. drilling boom leaves some homeowners in a big hole

U.S. drilling boom leaves some homeowners in a big hole

E-mail Print PDF

fracking boomThe United States has a long history of keeping industrial activity out of middle and upper-middle-class residential neighborhoods. But that is starting to change with the spread of new technology for oil and gas drilling, such as horizontal drilling and hydraulic fracturing, or "fracking."

The new techniques have allowed once-unreachable reservoirs of energy, trapped beneath the forested suburbs and bustling urban centers of places like Los Angeles, Denver and Cleveland, to be pumped out for the first time. As a result, millions of American homeowners now find themselves living within a mile of drilling activity that they say is deflating the value of their homes, making it hard for them to move.

It is one of the hidden costs of the oil boom, which has created thousands of jobs, spurred local economies and lowered domestic energy costs.

"You go to buy a home, you see that it has a well pad in the backyard, and essentially you might say I'm not willing to pay very much for this house," said Elisheba Spiller, an economist at the Environmental Defense Fund. "That's where the drop in value comes in."

Spiller - along with Christopher Timmins, a Duke University economics professor, and Lucija Muehlenbachs, a fellow at think tank Resources for the Future - published a working paper on Monday that found shale gas drilling within a kilometer (0.6 mile) of a home can decrease property values by an average of 16.7 percent if the house depends on wells - and not municipal sources - for its drinking water.

More...


Most Recent Related Stories...


EPA links oil and gas drilling to Texas quakes

Texasa quakes linked to frackingFederal regulators have tied a string of earthquakes in north Texas to oil and gas drilling...

Fracking Update: 3 tremors in 24 hours near Oklahoma shale country

Oklahoma tremorsThree minor seismic events were recorded near the shale reserve areas in Oklahoma in the past...

Thousands of strange blue lakes are appearing in Antarctica, and it’s very bad news

Blue lakes in antarcticaScientists have confirmed that thousands of pristine blue lakes have appeared on the ice sheets of...

Ex-regulators back Obama in fracking rule court appeal

Ex-regulators back fracking rulesA bipartisan quartet of former high-level Interior Department officials is supporting the Obama administration in its...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!