Cornell Hosts Panel on Gas Fracking, Speakers Say NY Shale Gas Minimal at Best
Cornell University hosted a panel discussion Wednesday night on the viability of natural gas production in New York, the panelists says shale gas development would bring little economic gain to the state.
The group of presenters included a retired Mobil Oil Corporation executive, a retired oil and gas investor, and a retired geologist.
The presentation focused on where natural gas reserves might be found in New York State. More than 200 people attended.
The group says the shale gas deposits in New York are not nearly as plentiful and lucrative as the deposits in central and southern Pennsylvania. The panelists say moderately productive gas deposits can be found in the southern parts of Broome, Chemung, Chenango, Delaware and Tioga counties.
Other parts of the state, including central New York likely won’t be economically viable for horizontal hydrofracking.
The panelists said the areas adjacent to fracking wells would see less economic reward, and more risk. Those places, called collateral damage areas, could see fracking waste and drill cuttings dumping, but they would not receive the economic benefits from drilling, the panelists said.
Those positions were challenged by representatives of the Independent Oil & Gas Association of New York.
Spokesmen from I- O-G- A said the panelists’ findings should be discounted because the group is composed of anti-fracking activists with ulterior motives.