U.S. Energy Secretary Steven Chu backs regulation of technologies, such as hydraulic fracturing, used to extract oil and natural gas from underground shale deposits, Bloomberg News reports. Chu says government must have a role in overseeing new technologies for developing oil and natural gas to prevent damage to natural resources. While most drillers operate responsibly, some might seek to skirt rules and risk damaging the environment, a hot-button issue in the fracking discussion. In fracking, millions of gallons of chemically treated water are injected underground to break up rock and free trapped gas. Supply increases have helped push natural gas prices to 10-year lows, but the process has drawn the ire of environmental groups. For more, read the full article.
Energy Secretary Chu backing regulation of drilling
