Fracking for shale gas in Michigan may intensify. Devon Energy, an energy company out of Oklahoma, obtained $2.2 billion from China this week for its fracking operations in the U.S., particularly in Michigan. Devon owns 300,000 acres in Michigan. Devon also constructs and operates pipelines, storage and treating facilities and natural gas processing plants. This stunning development helps unmask a common industry-perpetuated myth that shale gas drilling in the U.S. is designed to make us “energy independent.”
We need a ban more than ever. Please join us by signing our online petition against the frack reform bills that will have the gas industry itself pay for a frack study…. We already know fracking is not worth the costs to our health and environment.
Here are some of the news reports about the Sinopec/Devon deal:
- Wall Street Journal: Sinopec Enters U.S. Shale January 4, 2012
- Forbes: China Set To Frack America In Shale Deal With Devon January 4, 2012
- Reuters: Sinopec, Total pour $4.5 billion into U.S. shale January 3, 2012
- Business Week: Devon sells stake in shale ventures to Sinopec January 3, 2012
- The Wall Street Journal’s Deal Blog: The French and Chinese Are Digging in Your Yard for Natural Gas January 3, 2012