CITIZEN POWER ALLIANCE

Blackstone Group LP (BX), the world's largest private equity firm, is set to invest $1 billion in unconventional oil and gas projects in North America through a joint venture with Alta Resources, which has cemented a spotlight on fracking.

A U.S. Senate committee has been conducting a hearing on the safety of hydraulic fracturing, as it is formally known. The province of Quebec, the state of New York, and the entirety of France have recently banned the technique. And two new studies claim that fracking-derived shale gas is actually worse for the environment than mining and burning coal. With so many claims flying around about this unconventional practice, let's get a closer look at the facts.

The study suggests that between 3.6% and 7.9% of the methane in natural gas is lost from the time a well is plumbed to when the gas is used. On top of that, a recent study from the Goddard Institute for Space Studies at NASA suggests an interaction between methane and certain aerosol particles significantly amplifies methane's already potent greenhouse gas effects. In addition, thousands of trucks are driving every minute of every day to bring fracking fluid to drills and to remove wastewater. When all is factored in, Howarth and his colleagues conclude the greenhouse gas footprint of shale gas is likely 20% greater than coal per unit energy, and may be as much as twice as high.

(Click to read the entire article)