 The insurance industry and unconventional gas development: Gaps and recommendationsDaniel Wetherell and Darrick Evensen Energy Policy, 2016, vol. 94, issue C, 331-335 Abstract: The increasingly growing and controversial practice of natural gas development by horizontal drilling and high volume hydraulic fracturing (‘fracking’) faces a severe environmental insurance deficit at the industry level. Part of this deficit is arguably inherent to the process, whereas another part is caused by current risk information shortfalls on the processes and impacts associated with development. In the short and long terms, there are several conventional and unconventional methods by which industry-level and governmental-level policy can insure against these risks. Whilst academic attention has been afforded to the potential risks associated with unconventional natural gas development, little consideration has been given to the lack of insurance opportunities against these risks or to the additional risks promulgated by the dearth of insurance options. We chronicle the ways in which insurance options are limited due to unconventional gas development, the problems caused by lack of insurance offerings, and we highlight potential policy remedies for addressing these gaps, including a range of government- and industry-specific approaches. Keywords: Insurance; Liability; Hydraulic fracturing; Fracking; Risks; Market gap (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:94:y:2016:i:c:p:331-335 DOI: 10.1016/j.enpol.2016.04.028 Access Statistics for this article Energy Policy is currently edited by N. France More articles in Energy Policy from Elsevier |
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