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Wednesday, July 31, 2013

Hanger: Flaring Practices in North Dakota Reveal Disturbing Attitude of Industry

From John Hanger's Facts of the Day blog:
While the companies flaring vast volumes of gas in North Dakota may think that they are just burning gas to make oil money, they are also burning the reputation of their industry and state regulation.

The drilling in North Dakota is for oil, much more valuable oil, and the gas released comes with the oil production.  Oil currently sells for about 30 times more than natural gas. Instead of producing the gas commercially, the drilling companies burn it off so that they can speed the oil from the well to market.  The gas being flared amounts to $100 million per month or more than a billion dollars a year.

Some in the oil and gas industry express bewilderment that it regularly scores public approval levels below lawyers and journalists and just a bit above Congress.  Yet, the flaring in North Dakota is just one example of behavior that is perfectly calculated to turn off many people across America and does more damage to the industry than its most demagogic or ill-informed critics.
Read the rest of the article here.

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