The Subcommittee on Water Resources and Environment, chaired by U.S. Rep. Bob Gibbs (R-OH), will hold a hearing on Wednesday to explore potential new regulations by the Environmental Protection Agency (EPA) on the hydraulic fracturing of shale beds.
"In Ohio alone, the development of the Utica Shale formation holds tremendous economic potential. It would generate $12.3 billion in gross state product, result in over $23 billion in sales, and create more than 200,000 Ohio-based jobs," said Chairman Gibbs. "Furthermore, the state could experience an overall wage and personal-income boost of $12 billion by 2015 from industry spending.*"
Gibbs continued, "However, the US EPA has recently announced that they plan to look into implementing additional regulations of this wastewater under the Clean Water Act. I will be holding a hearing to receive testimony from federal, state and industry representatives on the regulatory approaches to fracking of shale beds so we can ensure that any future regulations EPA develops are reasonable and not a solution in search of a problem."
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