The promise and perils of natural gas

Vast reserves of natural gas unlocked by hydraulic fracturing, or "fracking", could lower energy prices and reduce emissions across the US. In fact, the US Energy Information Administration (EIA) says the US now may have enough natural gas resources to power the country for 110 years at 2009 consumption levels. But is the rush to release this new domestic energy source causing environmental and health problems.

The US uses more energy per person than any other country, and a quarter of that energy comes from natural gas. Innovations that combine horizontal drilling with high-volume hydraulic fracturing have unlocked previously unreachable deposits of natural gas in shale rock. This new glut of gas has driven prices down more than 65 percent since mid-2008, according to the EIA.

Consumers across the nation have benefited from this new resource, and new drilling projects are creating jobs. But at what cost to residents living near wells.

This video was originally posted on The Energy Collective in July 2011, courtesy of energyNOW! This independently-produced television news magazine programme focuses on energy and climate issues, and airs on Bloomberg Television and online at www.energynow.com.

BY: energyNOW!