CA governments need caution on fracking investments

By   /   May 16, 2013  /   No Comments

By Wayne Lusvardi | Cal Watchdog

SACRAMENTO, Calif. – Being the home of Hollywood and Disneyland, news in California always has an element of political theater and Fantasyland.  This is certainly so for all the contradictory headlines about fracking — the hydraulic fracturing of deep underground rock formations to extract oil and gas using untappable pressurized water that is miles underground.

On the one hand, news headlines indicate fracking is about to be banned statewide in California.  On the other hand, there are reports that fracking could generate $25 billion of new tax revenues per year for the state and boost the economy 14 percent.

But as with everything in the man-made social world, there are multiple levels of reality depending on one’s social location.

Read more at Cal Watchdog.

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