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WSJ reports that the SEC is bearing down on Fracking. The Securities and Exchange Commission which is tasked with regulating capital markets and is constantly under-staffed and under-resourced thereby allowing pirates to loot pillage and rape on Wall Street is asking oil and gas companies for detailed information about the use of “Fracking” The information is to include details about chemicals used and efforts to minimize environmental impact.
Does the SEC have a body of competent employees who can assess detailed fracking information. I think not. Why would the SEC do the work of environmental regulators? bureaucracy running rampant.
But remember this could be all part of the great Marcellus Shale conspiracy theory. By getting the wrong regulator involved in the fracking investigation you will only screw up the reports and eventually throw them away as useless.
But if you are a securities lawyer with some knowledge of fracking your market value is up big time.
Disclosure: George Gutowski writes from a caveat emptor perspective. I personally have no involvment in fracking but I do heat with natural gas. I have no positions in stocks or commodities mentioned in this post. I have no plans to initiate new positions within the next 72 hours.
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