New York State Attorney General Ramps Up Investigation into Questionable Fracking Industry Production Claims

Statement from Wenonah Hauter, Executive Director, Food & Water Watch

Washington, DC – “Subpoenas sent from the New York State’s attorney general’s office to four large energy companies, questioning their potentially inflated claims to investors, represent the latest development in the ongoing controversy around the increased use of hydraulic fracturing (also known as fracking) in shale plays across the country. We applaud New York Attorney General Eric Schneiderman for using his authority to investigate the gas industry’s claims regarding the long-term profitability of its shale gas development.”

“Shale gas drilling threatens public health and the environment, as evidenced by drinking water contamination and air quality problems. A recent New York Times investigation speculates that the practice may also be financially risky. Schneiderman’s investigation into four gas companies fracking in the Marcellus Shale — Range Resources, Cabot Oil and Gas, Goodrich Petroleum and Chesapeake Energy — is based on the discovery that New York State has more than $45 million of its pension funds invested in these companies. Attorney General Schneiderman wants to know if this industry is overstating its production to protect the state pension.”

“Perhaps this latest investigation will prompt New York Governor Andrew Cuomo to come forward and ban fracking in New York State. Regardless, the latest action from the state attorney general’s office is invaluable in holding industry accountable. His leadership on this issue is critical not only for New Yorkers but for people across the country.”

Click here for the New York Times article.

Contact: Lauren Wright, lwright(at)fwwatch(dot)org, 202 683-4929