24/7 Newsfeed

Put Reason 24/7 on Your Site

RSS

Follow Reason 24/7 on Twitter and via RSS

Colo. Flooding Shuts Down Gas, Oil Wells

Colorado's flooding shut down hundreds of natural gas and oil wells in the state's main petroleum-producing region, triggering at least two spills, temporarily suspending a multibillion-dollar drilling frenzy and sending inspectors into the field to gauge the extent of pollution.

Besides the possible environmental impact, flood damage to roads, railroads and other infrastructure will affect the region's energy production for months to come. And analysts warn that images of flooded wellheads from the booming Wattenberg field will increase public pressure to impose restrictions on drilling techniques such as fracking.

"There's been massive amounts of growth in the last two years and it's certainly expected to continue," Caitlyn McCrimmon, a senior research associate for Calgary-based energy consultant ITG Investment Research, said of Colorado oil and gas drilling. "The only real impediment to growth in this area would be if this gives enough ammunition to environmentalists to rally support for fracking bans, which they had started working on before this."

Source: AP. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

advertisement