TV News LIES

Thursday, Nov 27th

Last update02:34:36 AM GMT

You are here News Environment U.S. drilling boom leaves some homeowners in a big hole

U.S. drilling boom leaves some homeowners in a big hole

E-mail Print PDF

fracking boomThe United States has a long history of keeping industrial activity out of middle and upper-middle-class residential neighborhoods. But that is starting to change with the spread of new technology for oil and gas drilling, such as horizontal drilling and hydraulic fracturing, or "fracking."

The new techniques have allowed once-unreachable reservoirs of energy, trapped beneath the forested suburbs and bustling urban centers of places like Los Angeles, Denver and Cleveland, to be pumped out for the first time. As a result, millions of American homeowners now find themselves living within a mile of drilling activity that they say is deflating the value of their homes, making it hard for them to move.

It is one of the hidden costs of the oil boom, which has created thousands of jobs, spurred local economies and lowered domestic energy costs.

"You go to buy a home, you see that it has a well pad in the backyard, and essentially you might say I'm not willing to pay very much for this house," said Elisheba Spiller, an economist at the Environmental Defense Fund. "That's where the drop in value comes in."

Spiller - along with Christopher Timmins, a Duke University economics professor, and Lucija Muehlenbachs, a fellow at think tank Resources for the Future - published a working paper on Monday that found shale gas drilling within a kilometer (0.6 mile) of a home can decrease property values by an average of 16.7 percent if the house depends on wells - and not municipal sources - for its drinking water.

More...


Most Recent Related Stories...


Obama to unveil new limits on ozone pollution in victory for health groups

ozone limitsThe Obama administration will unveil new limits on smog pollution bringing the US up to par...

U.S.-China Climate Agreement Won’t Slow Warming Enough, World Bank Says

Global warmingAn agreement between the U.S. and China to curb greenhouse-gas emissions won’t slow global warming enough...

Anti-Fracking Activist Sandra Steingraber: Why I am in Jail

Sandra SteingraberBreakfast in the Chemung County Jail is served at 5 a.m. This morning—Friday, November 21, 2014—it...

Fracking: The Downside of the Boom

Fracking downsideIn early August 2013, Arlene Skurupey of Blacksburg, Va., got an animated call from the normally...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!