Developing renewable and clean technology companies in New York
Thursday, December 2, 2010
New York State Assembly passes moratorium on hydraulic fracturing
The New York State Assembly voted in favor of a moratorium on hydraulic fracturing, a method of natural gas drilling that poses a myriad of severe environmental and health risks. Although the moratorium will only last until May 15, 2011, it is a landmark victory for those opposed as politicians in New York have looked past powerful representatives from the natural gas industry and have officially recognized the dangers associated with the method of drilling. The moratorium will put the decision of future drilling into the hands of governor elect Andrew Cuomo who opposes such practices and has been quoted saying "only if it were safe".
With a large state deficit, hydraulic fracturing has been an extremely controversial issue as it has the potential to bring short-term economic prosperity at the cost of human health and longevity.