Vermont Bans Fracking: Will Other States Follow?

Fracking isn’t just for shale. In Russia, producers are importing techniques from the U.S. to squeeze billions of dollars of extra oil from Soviet-era fields. TNK-BP, Russia’s third-largest producer, will use hydraulic fracturing combined with horizontal drilling in almost half the wells it sinks this year, a sixfold increase in just two years, the company said. OAO Rosneft, OAO Lukoil and OAO Gazprom Neft have similar plans.

CALGARY — As a junior energy explorer comes closer to finding out whether North America’s next big shale oil find lies beneath the western coast of Newfoundland, concerns are being raised about the environmental effects fracking could have in the remote region. Shoal Point Energy Ltd. spent the winter holidays hammering out a farmout deal with Black Spruce Exploration, a subsidiary of Foothills Capital Corp., that will enable as many as 12 exploration wells to be drilled over the next few years in the Green Point shale.

More than four years after America's hydraulic fracturing boom kicked off, conflicts of interest between officials charged with regulating the controversial practice and the oil and gas industry remain widespread. Meanwhile, in-depth studies of fracking's effects on human health and the environment remain scant.

MONTREAL — When the Quebec government took a 10% stake in Pétrolia Inc. last year, its chief executive said he expected the move would open doors for the junior exploration company in its bid to become the province’s first major oil producer. He definitely wasn’t expecting a group of city councillors in Gaspé, population: 15,163, to ruin the party.

ByJake Mitchell:Not all investors may be familiar with the notion of hydraulic fracturing, however, those that are hoping to invest in the next great industry boom would be wise to educate themselves on the topic. In short, hydraulic fracturing or hydrofracking, is a technique used to extract petroleum, natural gas and other resources from the earth by injecting highly pressurized fluid into previously inaccessible channels of rock, thus significantly improving the recovery rate of hydrocarbons.

In the first half of 2011, the Big Four benefited from tight supply-demand conditions for many key services, as frenzied drilling activity in North American shale oil and gas plays strained the industry's capacity to meet these needs.In particular, a shortage of pressure pumping capacity - a service critical to hydraulic fracturing - had enabled service providers to push through substantial price increases in recent years.

Vermont Gov. Peter Shumlin has signed into law an overhaul of the state's mental health system.