Illinois' first fracking permit withdrawn
Hydraulic fracturing -- the controversial oil-and-gas drilling method once promoted as a major new source of jobs, tax revenue and domestic energy -- is again on indefinite hold in Illinois.
Woolsey Companies Inc., the Kansas firm awarded the first permit under the state’s 2013 “fracking” law, released a statement Friday citing regulatory compliance costs in the decision to drop drilling plans near the southeast Illinois community of Enfield. The practice relies on high pressure chemical and water injections to release oil and gas from deep-rock formation.
“The process we have gone through to receive a permit was burdensome, time consuming and costly due to the current rules and regulations of Illinois,” the company stated, “and it appears that this process would continue for future permit applications.”
The company said the area of southeast Illinois known as New Albany Shale had significant energy production potential, but that stringent Illinois rules combined with low oil and gas prices made the project too costly compared with other states.
Read more: http://www.sj-r.com/news/20171103/illinois-first-fracking-permit-withdrawn