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View Diary: Should New York State Require Frackers to Buy Watershed Insurance? (78 comments)

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  •  A financial cost comparable to a potential reward (0+ / 0-)

    Before drilling can begin; before testing of the potential asset with seismic equipment or any other preparation is started on a property an amount of money triple the potential reward is placed in escrow against potential liquidated damages.

    The amount can be bonded against or insured but it has to be a serious investment very unlike present leasing arrangements. The risk of remediation has to accurately reflect the no remediation possible scenario.

    Liquidated damages kick in as soon as there is fracking damage so that all profits are garnished and distributed to restitution projects which permanently place the property off limits to future leasing.

    It then becomes possible to go after the gas but at a cost that like the production of nuclear energy is high enough to encourage very careful, very well regulated procedures.

    Live Free or Die --- Investigate, Incarcerate

    by rktect on Sat Aug 24, 2013 at 03:17:40 AM PDT

    [ Parent ]

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