What are the environmental costs?
The truth is, there's one big one from shale, and that is methane. Now, methane is not a toxic chemical. It's in the air now, but most shale drilling releases a lot of methane. The fact is it's easy to fix. It just [requires] being very careful and very detail-focused. They have to measure the amount of methane that they're losing. A lot of methane pipelines have been in place for 50 years, and of course they leak. Now, the good news is that nine of the biggest firms are joining the Environmental Defense Fund. And it's a nice sign that these firms have approached the EDF and kind of said, "Help us help ourselves here." Without methane, natural gas is the cleanest burning fuel. It releases about half of the CO2 load that conventional oil does.
Corrected on : Corrected 8/9/13: A previous version of this article incorrectly stated Charles Morris' stance on natural gas exports. Morris is worried about unlimited natural gas exports. The article also incorrectly referred to oil-linked prices.