It's like ice cream and cake. :)
I can't believe I didn't know about Monkey Time. Coolness abounds.
“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
― Joe Biden
Forgive me for not paying much attention to the fracking issue. But I am learning, thanks to you on this board and to the folks I'm studying with and under in the Sustainability Studies program at Lenoir-Rhyne's Asheville Graduate Studies Center.
I am focused on the concept of Compulsory Pooling and the nature of these fracking rights leases. I want to learn more details about exactly how those leases work, and whether the property owners end up making any money at all after paying their share of drilling, shipping, and other costs.
On this issue I believe we can appeal to the libertarian property rights crowd, when we point out (correctly) that, in effect, the government is taking your land and you may not get a penny in compensation for a long time.
The measure of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little. - FDR
In NC under the proposed rules, does the 90% lease figure refer to 90% of the land owners or 90% of the acreage?
Apparently this practice came about in the late 1800's/early 1900's in the oilfields of Texas and Oklahoma, as an environmental mitigation measure. This allowed a driller to extract oil from a large underground pool using one well, rather than having to put wells on every piece of property.
Whether this practice is even applicable to horizontal fracking is questionable, as natural gas shale deposits don't occur in underground reservoirs or pools. The fracking machinery must be in relative close proximity to the shale, meaning that the horizontal drill rigs must "trespass" underground.
I hope others can enlighten me more about this!
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