The Fracking Debate: The Risks, Benefits, and Uncertainties of the Shale Revolution.

• Author: Murtazashvili, Ilia
• Position: Book review

The Fracking Debate: The Risks, Benefits, and Uncertainties of the Shale

Revolution

By Daniel Raimi

New York: Columbia University Press, 2018.

Pp. x, 262. $30 hardcover.

The fracking debate is often framed around two themes: horror stories about the danger of fracking and stories of the glories of the American energy renaissance. Daniel Raimi's goal in The Fracking Debate is to move beyond these polarized arguments by presenting "a full view of shale development in the United States, drawing both from the ground-level experiences I've had and from the academic literature that continues to develop" (p. 6). Presenting the full view of fracking depends on accepting three key facts: first, the shale revolution has created benefits; second, the shale revolution has caused damage and imposed costs; and, finally, there are still a number of important uncertainties. Raimi's impressive work certainly accomplishes its goal of providing a balanced, nuanced, and thoughtful analysis of the consequences of the shale revolution.

Chapter 1 addresses one of the key questions of fracking: with all that we do not know about fracking, why take the risk? This question raises the specter of the precautionary principle--the notion that until all risks are fully understood, it's best to wait. In response, Raimi notes, "If the precautionary principle is the lodestar by which we navigate risks and rewards, it quickly becomes difficult to justify using any number of new technologies" (p. 7). Addressing this issue early on sets the stage for the thoughtful analysis that follows.

Chapter 2 presents an overview of the shale boom that gives the unmistakable feeling that we have seen these types of booms (and busts) earlier and will see them again. The narrative recognizes the role of entrepreneurs such as George Mitchell, the founder of Mitchell Energy, in developing techniques to frack shale gas. It also emphasizes an important point of confusion: "fracking" is only one aspect of the oil and gas industry. In addition, some problems--spills, leaks--do not require that we ban fracking but rather that we improve regulation.

Chapters 3, 4, and 5 address the costs of fracking: Does fracking contaminate water? will fracking make me sick? Does fracking cause earthquakes? Anyone interested in the state of research on the costs of fracking will find these chapters indispensable. Raimi provides a masterful review of what economists, scientists, and engineers know about the...