STX 0.00% 21.0¢ strike energy limited

To be honest I suspect that the more people think about fraccing...

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    To be honest I suspect that the more people think about fraccing - and the potential for permanent loss for the many (im talking generations - forever) in exchange for fleeting profits for the few (one generation of shareholders and other stakeholders), the more people will fight fraccing on their land.

    I support fraccing, its a good step forward and has the potential to teach us how to create underground geothermal reservoirs. These can then be used to make base load clean electricity.

    However, its simply not worth it in prime agricultural land where people live. What's more, except for the odd farmer who will prostitute himself to SANTOS for an advertisement, farmers and landholders are realising that although mining, exploration and fraccing on their land brings an income, it also permanently devalues their land.

    Watch for class actions against companies like Hume Coal (COK) and Apollo for causing nuisance, devaluing property, and watch for environmental groups appealing enviro assessments at every step of the way. Its going to be a lawyer's dream.

    The simple truth is that by carrying out these activities in the cooper basin, you minimize the potential for hurt as long as companies still fulfill requirements and do things properly. In comparison, drilling in relatively densly populated areas on prime volcanic earth maximizes the potential for harm.

    As people become more aware of the dangers of fraccing, opposition will head in only one direction. And that is completely justified. Don't try and play "poor little oil + gas co. just trying to do its job." People won't buy it. This is about making money, and if you support making money in the course of risking the welfare of other people, then you may as well just start dealing drugs.
 
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