This week the Toledo Blade ran an interesting story about fracking — the word used to describe horizontal drilling and using pressurized water to break up shale formations and free natural gas and other fossil fuels — and its effect on the utility bills of Ohioans.
The gist of the story is that there are abundant supplies of natural gas due to fracking, and as a result Columbia Gas is charging its lowest amounts in years. The story estimates that, without fracking, the cost would be somewhere between 65 to 129 percent more. In a winter that’s been brutally cold, with higher natural gas usage as a result, the lower monthly bills are welcome indeed.
As the Blade story indicates, environmentalists are concerned about whether fracking will have an impact on water and its potential for causing earthquakes. My sense, however, is that most Ohioans are happy with how the development of the Utica Shale formation in eastern Ohio has proceeded. There’s no denying that the discovery of apparently vast natural gas and fossil fuel supplies deep underground has produced an enormous amount of economic activity in a formerly economically depressed part of the state, producing new jobs and causing lots of money from other places to be spent in the Buckeye State. If fracking also is lowering utility bills, and Ohioans make that connection, it will further increase the support for the entire fracking enterprise.