Chamber examines fracking
January 15, 2014
The Yukon Chamber of Commerce is sponsoring a series of lectures on energy issues. Two of the latest presentations have been on hydraulic fracking.
At today’s presentation Aaron Miller from the Canadian Assoc. of Petroleum Producers provided some perspective:
- In 2011 fossil fuels provided 82% of the world’s energy needs. This expected to fall to 78% by 2035, per the EAI.
- In Canada, the oil and gas industry accounts for 20% of the listed value of stock on the TSX and 18% of Canada’s exports.
- 550,000 people are employed directly and indirectly.
- The industry provides revenues of $18B /year to governments.
- Of the 175,000 ‘frack’ wells drilled in BC and Alberta, there has never been an instance of groundwater contamination, according to the provincial regulators.
- In BC the oil and gas sector accounted for only 1% of industry sector water use. A average frack well uses 5,000 to 100,000 cu.meters of water.
John Hogg, VP from MGM Energy, provided information on the 2012-13 drilling program in Norman Wells, NWT.
- Roughly, 100,000 man-hours of work was provided, half to northerners.
- MGM drilled three frack wells, near Tulita. They barged their supplies in in the summer and used seismic lines to get to site in the winter. No new roads were constructed.
Kudos to the Chamber for inviting guests to make presentations to the community about energy issues. The presentations are posted on their website (see source a below).
Both speakers made a compelling case that hydraulic fracking is environmentally sound and economically beneficial.