The free market has worked its magic, the Barnett Shale Energy Education Council, an industry group, claimed over the summer. The boom happened away from the greedy grasp of Washington, the American Enterprise Institute, a think tank, wrote in an essay this year. If bureaucrats had known this was going on, the essay went on, surely Washington would have done something to slow it down, tax it more, or stop it altogether. Oh really? Those present at the beginning of Americas energy renaissance say otherwise. Government grants made it possible. But those who helped pioneer the technique known as hydraulic fracturing, or fracking, recall a different path. Over three decades, from the shale fields of Texas and Wyoming to the Marcellus in the Northeast, the federal government contributed more than $100 million in research to develop fracking, and billions more in tax breaks.
Posted on: Wed, 13 Nov 2013 17:27:10 +0000
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