President Trump Considers Issuing an Executive Order on Analysis of Fracking Economics
Nov 2, 2020
Senior administration officials at the White House have been reported saying that the President is considering issuing an Executive Order that would require an economic analysis of fracking. President Trump is a supporter of fracking technology and has recently doubled down on that support in advance of this week’s election, as the industry provides economic benefits in key swing states like Pennsylvania. The action being considered would require government agencies to analyze the effect of fracking on trade and the economy and specifically the negative economic impacts of fracking being prohibited.
In addition to analyzing the impact of fracking as it currently stands compared with a complete or partial fracking ban, the Executive Order being considered would look to have federal government agencies examine how to expand the use of fracking technology to take even greater advantage of the economic benefits it provides.
As a reminder, fracturing, or more accurately hydraulic fracturing, is an advanced technological method that can be used to extract oil and gas from the earth. However, there have been widespread reports on and analysis of the possibility that the technology is potentially harmful to humans due to its association with drinking water contamination. Because of this link, environmental and safety groups have long fought the use of fracking technology in energy mining as they believe the health and environmental risks far outweigh the economic benefits.
Should President Trump move forward with issuing an Executive Order in line with the detail outlined above, ASME will be sure to report on the development including specific language and implementation.