Home Rule Authority May Derail U.S. Fracking Plans  Legendary crooner/actor Frank Sinatra famously sang the immortal line “It’s up to you, New York, New York”. For those who are opposed to ... more 
Home Rule Authority May Derail U.S. Fracking Plans  Legendary crooner/actor Frank Sinatra famously sang the immortal line “It’s up to you, New York, New York”. For those who are opposed to hydraulic fracturing or “fracking”, those lyrics are music to their ears on the heels of a favorable court ruling which may further prompt even more people in the state of New York to stand up against the controversial drilling practice. With the current New York moratorium on fracking due to expire in May of next year, the recent “home rule authority” success to challenge zoning laws and forbid gas drilling within the borders of the upstate New York towns of Middlefield and Dryden, could spill over to other parts of the state and further complicate Gov. Andrew Cuomo’s decision to lift the drilling ban. This development could have serious national implications considering Cuomo, who is in favor of more testing to determine public hazards of fracking, is expected to throw his hat into the 2016 U.S. Presidential race if Hilary Clinton chooses not to run on the Democratic ticket herself. Companies like  Halliburton (NYSE: HAL) and  Schlumberger (NYSE: SLB) are surely sitting on the edge of their seats too waiting for New York’s decision on fracking. This means start-ups focused on cleaner methods to extract gas from the ground and purify water may become valued much more richly in the very near future and fortunes could be made and lost in less than a New York minute. To that end, this concept has me very enthusiastic about  GASFRAC Energy Services (TSX: GFS) , the only company in North America providing waterless liquefied petroleum gas (LPG) gel fracturing technology. Image Courtesy of Flickr user Jinx less 
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Blue Phoenix
Thu, Oct 2, 2014 1:37 PM EDT