On Tuesday, February 12, Hudson Institute released a report (available here: http://www.hudson.org/files/publicati...) examining congressional bills to broaden federal oversight of the drilling process known as hydraulic fracturing (HF).
HF has revolutionized U.S. energy development. Today, natural gas production is booming. America's manufacturers and consumers, in turn, have benefited from lower prices. Past predictions of the U.S. becoming a major natural gas importer have given way to debates on how much, if any, we should export.
The boom has also sparked a debate on the proper role of the federal government in regulating a drilling technology that has so far been largely subject to state-level oversight. Congress may soon consider bills, collectively referred to as the FRAC Act, and other measures that would greatly expand the EPA's authority over HF-related oil and gas drilling.
Please join the report's author, Hudson Institute Visiting Fellow Lee Lane, who will lead a panel discussion on its findings and the key related questions facing policymakers, such as:
What are the benefits of continued robust shale gas development?
Are the assumptions underlying the federal preemption effort sound?
If enacted, would current proposals in Congress promote more efficient and safer energy development?
Are there other ways in which the federal government might help state regulators to do a better job?
Distinguished panelists included:
Chris DeMuth, Distinguished Fellow, Hudson Institute, former administrator of OMB's Office of Information and Regulatory Affairs and editor-in-chief of Regulation.
Natalie Tawil, Analyst, Congressional Budget Office
Hudson Institute President and CEO Kenneth Weinstein moderated the discussion.
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