Going along with the same theme from my last post, new rules have been proposed for hydrofracking, but this time in California. Governor Jerry Brown’s administration released these draft regulations that would require energy companies, for the first time ever, to disclose what chemicals they are releasing into the ground during the fracking process. These companies would also have to reveal the locations of their wells where this process is occurring.
These proposed regulations have arose because energy companies are looking into tapping the state’s Monterey shale, which runs from Northern California to Los Angeles and contains approximately 15 billion barrels of oil- making it the largest shale formation in the continental U.S.
A recent conclusion was drawn from a Bloomberg News study that in their disclosure reports, companies nationwide withheld one out of every five chemicals they used in fracking. Perhaps this is why nine other states have deemed these new rules appropriate, and why California is proposing them as well.
Under these new rules, companies would be required to disclose chemicals 60 days after completing fracking. They would also have to test their wells before fracking to ensure that leaks don’t occur, and provide the results of those tests to regulators before starting to drill.
With regulations around fracking steadily increasing, transparency has never been more essential for energy companies. By using SaaS based Locus EIM software to better organize, validate, and report all of the data and information involved with fracking, companies would be able to prove that when fracking is engaged in, it is engaged in safely. Locus’ EIM has already been proven to assist companies in showing that obtaining these valuable fossil fuels while remaining environmentally responsible is an attainable feat.