From regulations to production to technology, there’s a lot that goes into oil and natural gas development here in Colorado. But not everyone is aware of the ins and outs of the industry, leaving room for people to peddle myths.
Here are some top myths about fracking to be ready for:
MYTH: The oil and natural gas industry in Colorado is not regulated.
FACT: Colorado has some of the strongest fracking regulations in the nation. Environmentalists, regulators, and oil and natural companies all work together to build an expansive regulatory framework that includes everything from air pollution to industry transparency. In fact, Colorado was the first to pass groundbreaking methane regulations and the first to require water sampling both before and after drilling.
MYTH: Fracking is not necessary for our energy economy.
FACT: Fracking alone provides more than half of the oil produced in the United States. A recent report revealed that in 2015, hydraulic fracturing made up 51% of all crude oil produced in the United States. And here in Colorado, we have the one of the strongest energy industries in the U.S.
MYTH: Fracking is a new technology.
FACT: Fracking has been around since 1947, but technology is evolving to keep the oil and natural gas industry efficient and effective and the public and environment safe. Take flex rigs, for example. New flex rig technology can drill up to 3 times the number of wells from a single pad, minimizing land disturbances and preserving Colorado’s environment.
MYTH: Fracking is harmful to groundwater.
FACT: Over two-dozen studies show that fracking does not contaminate groundwater, including studies from Yale University, the Environmental Protection Agency (EPA) and Colorado State University. Their findings? No link between fracking and contamination.