Frack water treatment or waste water disposal has the potential to be a $3 billion industry in the Marcellus Shale region. In case you didn’t catch it the first time, that’s Three Billion Dollars. That’s in one region alone. I won’t venture to guess how big the entire wastewater treatment industry might be in a few years. There will be a lot of flow back water and produced water that will need to be treated as the Marcellus and other shale plays grow to contribute the bulk of U.S. gas production.
The oil & gas industry is an employment intensive industry and it is realizations like this one that show we need to work towards productive regulation that allows for the efficient development of domestic natural resources. We have the resources and the companies who extract them are creating jobs. That’s a win-win in my book.
As U.S. shale gas resources and hydraulic fracturing, or fracking, have entered the national consciousness, protests from nearby residents, then regulation, have followed. Yet rather than being bad for business, this regulation is actually spurring a new market in water technologies, according to a comprehensive report by the Artemis Project, a specialist consulting practice.
In particular, author Purabi Thakre and editor Laura Shenkar believe the rich Marcellus “play” — the gas industry term for large deposits — and its location under heavily populated New York and Pennsylvania are creating a vast market opportunity. “The Marcellus Effect: Building Momentum for Advanced Water Technology Solutions” says, “Experts estimate that shale gas drilling will grow sevenfold over the next 10 years in the Marcellus Shale…. The resulting market for wastewater disposal and treatment in this region alone will exceed $3 billion per year, according to the banking firm Boennings & Scattergood. In addition, Shenkar expects that water technology innovations created for shale plays will find markets in other industries.
Read the full news article at forbes.com