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Is Fracking the Next Financial Crisis: Development Lens for Understanding Systemic Risk and Governance

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dc.contributor.author Baker, Shalanda H.
dc.date.accessioned 2017-06-08T20:18:54Z
dc.date.available 2017-06-08T20:18:54Z
dc.date.issued 2015
dc.identifier.citation Baker, Shalanda Helen, Is Fracking the Next Financial Crisis? A Development Lens for Understanding Systemic Risk and Governance (2015). Temple Law Review, Forthcoming; Univ. of San Francisco Law Research Paper No. 2014-09.
dc.identifier.uri http://hdl.handle.net/10125/46019
dc.description.abstract Natural gas sits in deposits across vast regions of the United States, and hydraulic fracturing (fracking) is the current method used to extract it. Fracking for natural gas has been billed as the next economic boon to poor communities and the key to mitigating the negative effects of climate change. But fracking also involves risks: risks to our environment, to our communities, and to our markets. To date, the debate about fracking-and efforts to address concerns about the risks of fracking-has largely been a debate about who should regulate, the federal government, the states, or some combination of the two. Framing the current fracking debate as a federalism question is a mistake. This Article argues that the narrow frame of the current fracking debate misses important features of the problem. It argues that fracking is best understood within the much broader context of development in the United States, and more specifically as an example of an approach to development called "hybridity." The Article maps hybridity as comprised of the following three key features: (1) private actors engaged in difficult-to-regulate activities, (2) involvement of public goods, and (3) creation of systemic risk. Drawing together the financial crisis of 2008, the BP oil spill of 2010, and fracking shows that all three share the common features of hybridity, and give rise to a similar suite of concerns. Regulation alone is not sufficient to address these concerns. Instead, the Article proposes several ways in which the hybridity of fracking might be disrupted, thereby easing the overall risksoffracking while realizing its potential benefits.
dc.format.extent 54 pages
dc.language.iso eng
dc.publisher Temple Law Review
dc.subject fracking
dc.subject shale gas
dc.subject hydraulic fracturing
dc.subject hydrofracturing
dc.subject natural gas
dc.subject environmental law
dc.subject development
dc.subject hybridity
dc.subject systemic risk
dc.title Is Fracking the Next Financial Crisis: Development Lens for Understanding Systemic Risk and Governance
dc.type Report
dc.type.dcmi Text
Appears in Collections: Woods, Roberta Freeland (Retired Faculty)


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