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The Pros And Cons Of EQT

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After expanding my knowledge and learning various viewpoints from my classmates, it is refreshing to look back on my writing assignment from the second day of class to observe truly how my views have grown and expanded as the semester has progressed. After revisiting the writing topic, my views have generally stayed the same but with added depth and reason. As the CEO of EQT, I would still continue hydraulic fracturing operations. Taking the enlightened self-interest view (ESI), as CEO it is still essential to prioritize profits first or attempt to benefit as many shareholders as possible, while taking into consideration other stakeholders as well. Shareholders, the government and employees will likely benefit the most from this decision …show more content…

Offering a limited liability-release combines the efficiency and individuality of continued fracking, allowing me to continue to maximize profits for shareholders, while still being fair and maintaining integrity to make certain that all stakeholders are being accounted for. A partial liability-release would allow neighbors to obtain remedies for unexpected damages that might occur as a result of the hydraulic fracturing but still allows for the neighbors to waive their rights to sue for the known dangers of fracking, thus protecting EQT. An example of an advantage of the partial liability-release would be if there were an earthquake caused by fracking. It would be fair and the integrity of the company would hold if we allowed letting the neighbors obtain some kind of remedy in this …show more content…

This leads to proving that EQT and other fracking companies that offer liability-release agreements are operating as monopsonies because they are the only “buyer” for the landowners. A similar example I can recall from the course is in the Merck – Vioxx case, Professor Stapp referenced that some football players enjoyed Vioxx because it was the only pill on the market that actually helped with their pain, however, because there was no other choice on the market at the time, the voluntary exchange requirement was

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SUMMARY Journalist, Nick Stockton, in the article, “Fracking’s Problems Go Deeper Than Water Pollution,” published in June 2015, addresses the topic of hydraulic fracturing and argues that fracking has more negative consequences than one might think. Stockton supports his claim first by appealing emotionally through a short summary of a recent event involving fracking and also by utilizing evidence to back up his statements. The author’s overall purpose is to highlight outcomes of fracking in order to make more people aware of issues that can arise from this common way of obtaining energy. Stockton utilizes a scientific, yet critical tone in order to create an unbiased article and appeal to his audience’s concern for the well being of the

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While delving into the advantages and disadvantages of domestic natural oil and gas production I realized that hydraulic fracturing has proven itself to be a valuable asset to the United States economy. In “Fracking: Fix It or Forget It?” by Daniel E. Klein, Daniel shares with his readers that “in the last decade, shale development technologies have become technically and commercially feasible. Pairing horizontal drilling with hydraulic fracturing, “fracking” has revolutionized the oil and gas outlook as few other industries’ ever have done before. Increased domestic production of both oil and gas has led to enhanced energy security, reduced fuel imports, and improved balanced of payments for the United States.

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Natural gas is said to be the fuel of the recent future but at this point in time it as a resource that is quickly dwindling. A process called hydraulic fracturing or fracking is being used to access hidden reserves of gas in shale deposits under the ground. The process of fracking isn't new, but is being used more frequently and in more areas as easy-to-access deposits run out. This is where the dispute comes in; is the economic gains of fracking worth the environmental harm it causes? Fracking is too dangerous to risk when finding ways to access natural gas because it can affect water sources, has long lasting effects on the environment, and ruins areas surrounding the well site.

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Hydraulic fracturing, commonly known as fracking, is a very controversial method of capturing oil and natural gas. It involves shooting a solution of water, sand, and almost 600 chemicals at extreme pressure into underground wells, causing the rock formations to crack. This allows the oil and natural gas to flow more freely, allowing previously trapped resources to be harvested. Fracking is so controversial because the potential monetary gains are enormous, yet the environmental impacts are devastating. The documentary “Gasland”, directed and narrated by Josh Fox, provided first hand insight into the fracking industry.

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I feel as if there is always an issue in agreements where a company reaches out to people wanting to pay them to use their property. For example, when the government wants to build roads on a person’s property, they will often buy it from them. Yet when the person does not want to sell, they find a way to take it from you. Having this thought in mind, I assumed that the company would have found a way around him turning down their offer. The company would have also settled the agreement before they begin fracking and would probably state that they are not responsible because they would have already paid to use the lands.

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Nicolas D. Loris, who is an economist at the Heritage Foundation, claims fracking helps create new jobs “for geologists, engineers, rig workers, truck drivers, and pipe welders”—such as a plant located in Pennsylvania that will generate about 10,000 new jobs—and also helps create more business for hotels and restaurants (“Fracking is not a Public Health Risk,” Chemicals). Using this method of wastewater injections, says Loris, also generates over “600 trillion cubic feet of natural gas… [which] is enough heat to 15 million homes for one year” (“Fracking is not a Public Health Risk, Chemicals). He continues his argument by saying that, with the creation of new jobs, hydraulic fracking increases the U.S. economy and makes natural gas available for vital things such as food processing, pharmaceuticals, and fertilizers (“Fracking is not a Public Health Risk,”

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Even though other gains are pointed out, the main viewpoint is the price value. The entire idea of fracking was established as an easier way to extract oil in order to make it an even more valuable resource. Pressure driven, fracking has been viewed as one of the key techniques for separating alternative oil and gas assets. Researchers are stressed that the chemicals utilized as a part of it all may represent a danger either underground or when extracted liquids are dealt with would more than likely be spilled at first glance here and there. There are more than enough downsides to fracking.

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Thesis statement The benefits of natural gas hydraulic fracking do not justify the adverse effects it causes through continuous earthquakes, pollution of the water table, or potential health hazards to human populations. This subject is interesting to me because I work for a natural gas company. I have had many conversations with other employees regarding natural gas fracking, and most of them are biased to the views of the drilling companies which means they do not see any harm in it. There also used to be companies fracking for natural gas in Arkansas on the Fayetteville Shell. The number of small earthquakes did rise (3.0 or smaller), but there was nothing resulting in a large amount of devastation.

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Exxon exercises unique geoscience capabilities and understanding of the global hydrocarbon endowment to identify and prioritize all quality resources in a cost-effective manner. Exxon’s strategy is a cost leadership strategy in the upstream segment by outperforming the competition—creating a comparable value at low-cost—using core competencies: industry-leading technology and capabilities, disciplined approach to investing and cost management, and operations

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Despite, the human’s constant concerns about the impact of fracking on the environment, human health and other issues, it has been one of the most important innovations for the economy in Northeastern Pennsylvania over the last century. “It’s almost impossible to overestimate the importance of fracking to the natural gas industry and the nation”. The importance of fracking on the economy in Northeastern Pennsylvania is similar to everywhere else in the United States. However, ever since the discovery of this technology, Northeastern Pennsylvania in particular has transformed completely.

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Researchers have “requested data from Pennsylvania, Ohio, West Virginia, and Texas, all states heavily involved in the recent surge of oil and gas drilling, about complaints related to hydraulic fracking for oil and gas” for their research on fracking (Dechert).   The research collected was shocking, over 2,000 complaints in Texas alone and several cases on well water contamination within the states mentioned in Decherd’s article. People need to be alerted about how real fracking is and the damages it is doing. These complaints and cases should be a wakeup call to the world and say that we should put it to a

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For the citizens, “fracking will give them jobs so they can make money and support their families” (Rogowsky). Furthermore, with the addition of fracking “the United States can get about 1.8 trillion barrels of shale (“sedimentary rocks that have rich sources of petroleum and natural gas” (Rogowsky)) a year compared to Saudi

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