The U.S. is setting new oil production records as horizontal drilling and fracking open up shale deposits in places like North Dakota and Texas.
Fracking is based on the “hydraulic” process of using pressurized liquid to shatter shale rock to let the oil and gas inside escape. And while that liquid is a mixture of many hazardous chemicals, it is mostly water. And acquiring that water and then properly disposing of the toxic wastewater produced by fracking is becoming a big and expensive problem for the industry.
Gabriel Collins is a fellow in energy and the environment at Rice University, and in August he gave a presentation at the Produced Water Society Permian Basin 2018 event in Midland, Texas. There, Collins presented a business case for starting a large water processing company to service the fracking industry.
One sign that the fracking industry is becoming concerned about water is that there are now societies and conferences dedicated to the topic of “produced water.” Produced water is the term for the toxic water that is “produced” over the life of a fracked oil or gas well.
In a story by Bloomberg News, Collins said he didn’t believe investors were aware of the risks that water poses to the fracking industry in the Permian Basin.
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