Trump looks to big oil CEOs for $1 billion towards presidential campaign: Report
Former President Donald Trump is tapping Big Oil chief executives in an attempt to receive $1 billion in donations to his reelection campaign, according to the Washington Post. What is he promising in return? Yahoo Finance Senior Columnist Rick Newman talks about Trump's talking points on broadening oil (CL=F, BZ=F) drilling, even though major energy companies are diversifying their portfolios and leaning into clean energy practices while maintaining drill sites.
Click here to read Trump rakes in millions at Texas fundraisers, promising pipelines and fracking
Fracking, or hydraulic fracturing, is a controversial method of extracting natural gas and oil from deep underground. While it offers economic benefits such as increased energy production and job creation, it also poses significant environmental and health risks. Here are some of the dangers associated with fracking:
1. Water Contamination: Fracking requires large amounts of water mixed with sand and chemicals to fracture rock formations and release the trapped gas or oil. There have been numerous cases where this mixture, known as fracking fluid, has leaked into groundwater, contaminating drinking water sources with toxic chemicals and methane.
2. Air Pollution: Fracking operations release various air pollutants, including volatile organic compounds (VOCs), nitrogen oxides (NOx), and particulate matter. These pollutants contribute to smog formation, respiratory problems, and other health issues for nearby communities.
3. Earthquakes: Fracking can induce seismic activity by injecting fluids into deep rock formations, which can reactivate dormant faults or cause new ones. While most induced earthquakes are small, there have been instances of larger earthquakes linked to fracking activities, leading to property damage and potential risks to human safety.
4. Habitat Destruction: Fracking infrastructure, such as well pads, access roads, and pipelines, can disrupt and fragment natural habitats, threatening local wildlife populations and biodiversity.
5. Climate Change: Natural gas extracted through fracking is primarily composed of methane, a potent greenhouse gas that contributes to climate change. Methane leaks occur at various stages of the fracking process, from well drilling to transportation and distribution, exacerbating global warming.
6. Water Depletion: Fracking consumes vast amounts of water, particularly in regions already facing water scarcity. This can strain local water supplies, compete with agricultural and municipal needs, and impact aquatic ecosystems.
7. Chemical Exposure: The exact composition of fracking fluid is often proprietary and not fully disclosed to the public. Some of the chemicals used are known carcinogens or have other adverse health effects. Accidental spills or leaks can expose workers and nearby residents to these hazardous substances.
8. Waste Disposal: Fracking generates large volumes of wastewater, known as produced water, which can contain pollutants such as heavy metals, radioactive materials, and high levels of salt. Proper disposal and treatment of this wastewater pose significant challenges and can lead to environmental contamination if mishandled.
These dangers highlight the complex environmental and health risks associated with fracking, prompting ongoing debates over its regulation and whether the short-term economic benefits outweigh the long-term environmental costs.
Matthew 7:15
True and False Prophets
“Watch out for false prophets. They come to you in sheep’s clothing, but inwardly they are ferocious wolves."
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