Top 5 Reasons Fracking Regulations Are Whack
The current approach to mitigating hydraulic fracturing’s risks is top-down, command-and-control government regulation. But this system is highly inefficient and ineffective at balancing the risks and rewards of fracturing. Why? Regulation imposes costs on consumers, typically benefits special interests, limits competition, and shields bad actors from liability. Meanwhile, property rights and water markets can better mitigate the risks, while also promoting the benefits.