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Environmental Economics Essay Example

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Environmental Economics

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More income can be generated since oil and the products of its processing are in demand, and more sources of income for the companies that mine and store oil. While the large oil and petroleum companies were able to push for more excavations of places where oil deposits might be found, the residents of these areas find it harder to stay in the places where they used to live quietly. For example, in Colorado, residents near oil wells complain of breathing problems, water supplies that burn their skin, and the possibility of their homes getting burned if the wells caught fires (“Split Estate”). Aside from hazardous environment, the residents also had problems with the decrease in the values of their properties because the places are near oil drilling and mining wells, so if they sell their land and houses, they do not earn a lot from it. As more and more wells are dug up, more people are exposed to hazardous chemicals that come from the processes and the value of the land as residential lots that are near the mines decrease also. As the oil industry booms from getting more land leases and mineral rights, the health and welfare of the residents suffer from it (“Split Estate”). At the end of the documentary, there were still many questions and problems that were not resolved, such as the continuing drilling of more lands suspected of having oil deposits, of paying residents near these oil deposits to either the lease of the minerals and oil under their grounds, or paying them to stop suing and complaining of the hazardous effects of oil mining.Oil drilling and mining companies are exempted to regulations and laws that require them to publicize what procedures and chemicals they use in their operations, so even if there were many reports about residents getting sick from the contamination of their water with hazardous chemicals, the mining and drilling would not stop. The number of residents and citizens that were protesting against the expanding of places where oil wells were being dug up prompted some government officials to research and investigate on the effects of suspected hazardous materials being released into the atmosphere by the oil drilling and mining companies (DSNRC 4). Also, the Land Management Bureau proposed a rule that these companies must now publicize the names of chemicals that they use in their drilling and mining processes, regulate their drilling, address issues in the water contamination problems, and strengthen their

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Works Cited

Boman, Karen. Study: Fracking Rule on Federal, Indian Lands Could Cost More Than $1.6B. 12 June 2012. 4 February 2013 <http://www.rigzone.com/news/oil_gas/a/118546/Study_Fracking_Rule_on_Federal_Indian_Lands_Could_Cost_More_Than_16B>.

Democratic Staff of the Natural Resources Committee. "Drilling Dysfunction Report." 8 February 2012. 2012-02-08_RPT_DrillingDysfunction. 4 February 2013 <http://democrats.naturalresources.house.gov/sites/democrats.naturalresources.house.gov/files/2012-02-08_RPT_DrillingDysfunction.pdf>.

Bureau of Land Management. "Oil and Gas; Well Stimulation, Including Hydraulic Fracturing, on Federal and Indian Lands." 11 May 2012. Office of the Federal Register (US) Web Site. 3 February 2013 <https://www.federalregister.gov/articles/2012/05/11/2012-11304/oil-and-gas-well-stimulation-including-hydraulic-fracturing-on-federal-and-indian-lands#table_of_contents>.

Split Estate. Dir. Debra Anderson. 2009. Youtube . 3 February 2013 <http://www.youtube.com/watch?v=KzV4dVh1Cz0, http://www.youtube.com/watch?v=dIxuEiadfHM, http://www.youtube.com/watch?v=yH45b-RzNQ8, http://www.youtube.com/watch?v=NNXOPJGSzag>.

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