Berliner Boersenzeitung - Pennsylvania's fracking industry plans to continue, whoever wins White House

EUR -
AED 4.298532
AFN 77.113669
ALL 96.629783
AMD 443.666316
ANG 2.095199
AOA 1073.317589
ARS 1682.80214
AUD 1.752877
AWG 2.10684
AZN 1.989453
BAM 1.957835
BBD 2.345437
BDT 142.327914
BGN 1.958061
BHD 0.441223
BIF 3443.343016
BMD 1.170466
BND 1.509546
BOB 8.048364
BRL 6.406312
BSD 1.164461
BTN 104.691439
BWP 15.511807
BYN 3.382793
BYR 22941.141486
BZD 2.342034
CAD 1.613593
CDF 2611.310761
CHF 0.935083
CLF 0.027564
CLP 1081.311798
CNY 8.26888
CNH 8.26069
COP 4496.674415
CRC 573.373409
CUC 1.170466
CUP 31.01736
CVE 110.379712
CZK 24.242937
DJF 207.361209
DKK 7.468618
DOP 75.001926
DZD 152.058053
EGP 55.663166
ERN 17.556996
ETB 181.387864
FJD 2.659062
FKP 0.878911
GBP 0.874022
GEL 3.148521
GGP 0.878911
GHS 13.370896
GIP 0.878911
GMD 86.036408
GNF 10129.363367
GTQ 8.91436
GYD 243.683247
HKD 9.105263
HNL 30.671324
HRK 7.536685
HTG 152.485901
HUF 382.827946
IDR 19483.583733
ILS 3.789098
IMP 0.878911
INR 105.100216
IQD 1525.459504
IRR 49305.897501
ISK 148.6023
JEP 0.878911
JMD 186.734178
JOD 0.829875
JPY 182.092379
KES 150.568638
KGS 102.35772
KHR 4665.852388
KMF 493.936673
KPW 1053.415883
KRW 1714.780166
KWD 0.359029
KYD 0.970401
KZT 603.728472
LAK 25253.850988
LBP 104279.799218
LKR 359.596903
LRD 205.529697
LSL 19.793743
LTL 3.456083
LVL 0.708003
LYD 6.337232
MAD 10.765188
MDL 19.825369
MGA 5199.292826
MKD 61.562431
MMK 2458.620816
MNT 4154.401858
MOP 9.333606
MRU 46.439343
MUR 54.134085
MVR 18.02238
MWK 2019.26722
MXN 21.254593
MYR 4.802452
MZN 74.804474
NAD 19.793743
NGN 1695.900278
NIO 42.855384
NOK 11.801233
NPR 167.506303
NZD 2.010955
OMR 0.450047
PAB 1.16471
PEN 3.915032
PGK 4.94108
PHP 69.121896
PKR 329.171182
PLN 4.22464
PYG 7934.551208
QAR 4.245812
RON 5.09165
RSD 117.405916
RUB 91.587501
RWF 1694.899403
SAR 4.392276
SBD 9.633631
SCR 17.704013
SDG 704.034591
SEK 10.844511
SGD 1.512342
SHP 0.878153
SLE 28.21055
SLL 24544.093046
SOS 664.348523
SRD 45.19989
STD 24226.291366
STN 24.520245
SVC 10.189413
SYP 12941.658243
SZL 19.786337
THB 37.138671
TJS 10.771494
TMT 4.108337
TND 3.423558
TOP 2.818202
TRY 49.87861
TTD 7.89652
TWD 36.392105
TZS 2864.702455
UAH 49.298504
UGX 4158.321518
USD 1.170466
UYU 45.637681
UZS 13977.540637
VES 301.519502
VND 30849.982966
VUV 142.704116
WST 3.263037
XAF 656.499042
XAG 0.018901
XAU 0.000276
XCD 3.163244
XCG 2.098733
XDR 0.816474
XOF 656.499042
XPF 119.331742
YER 279.185474
ZAR 19.820175
ZMK 10535.603643
ZMW 27.080359
ZWL 376.889704
  • SCS

    0.0200

    16.14

    +0.12%

  • RYCEF

    -0.1300

    14.62

    -0.89%

  • RELX

    0.5400

    40.08

    +1.35%

  • CMSC

    0.0600

    23.3

    +0.26%

  • AZN

    1.6900

    91.51

    +1.85%

  • VOD

    0.0600

    12.56

    +0.48%

  • NGG

    -0.2500

    74.64

    -0.33%

  • GSK

    1.1400

    48.41

    +2.35%

  • BCE

    0.0400

    23.19

    +0.17%

  • RBGPF

    -1.5200

    77.68

    -1.96%

  • RIO

    1.8400

    76.24

    +2.41%

  • JRI

    0.0190

    13.72

    +0.14%

  • CMSD

    0.0600

    23.28

    +0.26%

  • BCC

    5.0100

    77.01

    +6.51%

  • BTI

    1.4700

    58.76

    +2.5%

  • BP

    0.3300

    35.88

    +0.92%

Pennsylvania's fracking industry plans to continue, whoever wins White House
Pennsylvania's fracking industry plans to continue, whoever wins White House / Photo: Rebecca DROKE - AFP

Pennsylvania's fracking industry plans to continue, whoever wins White House

Pennsylvanians working in the controversial fracking industry are confident that the sector will endure, whoever wins the White House in November's presidential election.

Text size:

With an eye firmly on winning over voters in the gas-rich battleground state, both Republican candidate Donald Trump and his Democratic opponent Kamala Harris are vowing to support the hydraulic fracturing industry.

But Trump's consistently strong support for the practice – and Harris's past opposition to it – have led some voters in the largely rural Republican county of Washington to conclude that the former president would be better.

"I absolutely adore Trump, but I think he's very contentious," said Jennifer McIntyre, a 47-year-old sales and operations representative for Keystone Clearwater Solutions, which provides water transfer services for the fracking industry.

McIntyre, who is active in the local Washington County Republican party, told AFP she thinks the former president is "incredibly pro-oil and gas," and that Democrats at both the state and national level have put up regulations that make it harder for the industry to succeed.

"I think that sometimes those regulations are not necessarily appropriate," said McIntyre, 47, in an interview at the company's offices in the suburban business park of Southpointe, where many fracking businesses are located.

- More gas than Qatar -

Pennsylvania's embrace of new fracking and drilling techniques in the first decade of the 21st century kicked off a boom in natural gas extraction which has pushed the state's annual production higher than Canada or Qatar.

There are currently more than 2,000 active so-called "unconventional" gas wells in Washington County, and close to 13,000 across the state, according to data from Pennsylvania's Department of Environmental Protection.

At Diversified Energy's site in South Franklin Township in southwestern Pennsylvania, seven 10-year-old wells hum quietly as they extract natural gas from the Marcellus Shale thousands of feet below.

The gas is first cleaned, and then sold into a nearby pipeline, generating profits for Diversified, royalties for landowners, and revenues for state and local government.

Together, these seven wells produce more than four million cubic feet of gas per day, on average, (approximately 113,000 cubic meters), Jason John Mounts, the company's director of operations in southern Pennsylvania, told AFP during a tour of the site.

Asked whom he supports in the 2024 presidential election, the 40-year-old, who grew up nearby, said he backs "whoever is going to be driving our business."

"At the end, it'll take care of itself," he said. "Every four years, it always takes care of itself."

Unlike some of the largest players in the fracking sector, Diversified Energy does not do the actual fracking – an expensive and dangerous process in which water, sand, and chemicals are pumped thousands of feet underground at high pressure to create fractures in the bedrock and release the gas trapped inside.

Instead, it buys operating wells from other companies once they are up and running, and then fine-tunes them to increase production.

Diversified expects its existing portfolio of wells across the United States to continue producing gas for the next 50 to 75 years on average, according to the company’s vice president of investor relations, Douglas Kris.

"This is going to be part of our economy here for as long as we need it," he told AFP.

- Environmental concerns -

Scientists, environmentalists, and public health experts around the world have called for fracking to be banned, citing the health and climate impacts of the fracking phase of the extraction process, and the long-term environmental damage caused by the continued burning of fossil fuels.

In response to these concerns, governments across Europe – including France and Germany – have either banned or suspended the process, as have several provinces of Canada, and US states that include New York.

But in Pennsylvania, support for fracking has grown over the past decade, with 48 percent in favor and 44 percent opposed, according to a 2022 poll from the Muhlenberg College Institute of Public Opinion. When asked if fracking was good for the economy, 86 percent said yes.

Across the state, where coal was once the dominant source of energy, fracking supported more than 120,000 jobs in 2022, paying an average of around $97,000, according to a study commissioned by the Marcellus Shale Coalition (MCS), an industry trade group.

"Those jobs are across the spectrum," MCS president David Callahan told AFP in an interview. "Many blue collar jobs. But many white collar jobs as well."

(B.Hartmann--BBZ)