Bloomberg Gives Group $6 Million to Develop Fracking Regulations

"The environmentalists who oppose all fracking are wrong, and the drillers who claim that regulation will kill the industry are wrong."

New York City Mayor Michael Bloomberg gave an environmental group $6 million on Friday to spur development of natural gas drilling regulations and safety practices. 

The Environmental Defense Fund (EDF) was awarded the three-year grant from Bloomberg Philanthropies to support its push for safer hydraulic fracturing, or "fracking," practices in 14 states. The group's work dovetails with Bloomberg's energy and environmental interests, as he has said natural gas provides a less-polluting alternative to coal.