BusinessBrief.com » Why recent minor earthquakes could result in higher energy prices

Why recent minor earthquakes could result in higher energy prices

June 12, 2012 by Jim Giuliano
Posted in: In this week's e-newsletter, Latest News & Views, Technology


Two recent earthquakes near the Texas/Louisiana border could result in more regulations on energy companies — and higher costs for the rest of us.

The temblors have prompted a formal investigation by the U.S. Geological Survey (USGS), which will look at the effects of drilling for oil and gas.

The quakes both struck in May, 25 miles northeast of Nacogdoches, TX. It’s unusual for earthquakes to rattle the area stretching from eastern Texas to Shreveport, LA.

The area is home to many oil and natural gas production wells. Researchers suspect that the quakes, which registered 3.9 and 4.3 magnitudes, were triggered by drilling activity and underground waste disposals that are associated with hydraulic fracking techniques.

Similar earthquakes have been detected in Arkansas, Colorado, Ohio, and Oklahoma. USGS thinks these are “almost certainly” manmade events.

For more, go here.

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