Tech
Should The U.S. Ban Fracking?
By 2020, for the first time in 70 years, the US is predicted to become a net energy exporter. Most of this progress can be attributed to the combination of two technologies known as hydraulic fracturing and horizontal drilling. American consumers, oil and gas companies, and landowners have benefited significantly from the shift, while others say they have lost a great deal. CNBC explores if the U.S. should ban fracking.
The combination of hydraulic fracturing, or fracking, and horizontal drilling has revolutionized U.S. energy. The country has gone from heavily relying on foreign oil to producing enough for both its domestic consumption and international exports in less than two decades. The shale revolution has lowered prices, strengthened the U.S. geopolitically and made entrepreneurs and landowners very wealthy. By 2020, the US is predicted to become a net energy exporter.
However, the process of fracking is controversial. The potential harm to the environment and local communities is polarizing. Opponents of fracking argue water contamination and air pollution warrant stricter regulation and in some cases, a complete ban. Proponents on the other hand, claim that there is little to no evidence linking the pollution to gas drilling. A common rhetoric is that burning natural gas is more environmentally friendly than burning coal.
But there’s been a number of reports where individuals have been harmed, often due to mishandling of wastewater or improper building of boreholes. Bryan Latkanich lives in Washington County, Pennsylvania and leased his property to Chevron. He claims health problems him and his son have experienced and the damage to his property are caused by the gas drilling on his property. But the Pennsylvania Department of Environmental Health and Chevron have not found a link between the gas drilling and his claims. “Ultimately at this point I just want to get a buyout and move my son away from here and myself so we can try to get better and have a normal life,” says Latkanich.
UPDATE: Chevron acquired the rights to the well on Bryan Latkanich’s property after it was installed.
Whether fracking should be allowed or not is widely discussed. France, Germany and Ireland have banned the practice entirely. So have states in America such as New York, Maryland and Vermont. Democratic hopefuls, Elizabeth Warren and Bernie Sanders, have made statements that they intend to do change the regulations at the federal level. Other candidates like Joe Biden and Pete Buttigieg are suggesting limits on production or stronger regulations. However, as the laws currently stands, the Federal government has limited regulatory tools to make any real changes. Most authority of oil and gas development is in the hands of state governments.
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Should The U.S. Ban Fracking?
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“Inside a secretive lab in Santa Barbara, California, scientists at Alphabet are working on one of the company’s most ambitious bets yet. They’re attempting to develop the world’s most advanced quantum computers. Late last year, Google unveiled a breakthrough quantum computing chip called Willow, which it says can solve a benchmark problem unimaginably faster than what’s possible with a classical computer. CNBC’s Deirdre Bosa gets an exclusive look inside Google quantum lab and explores whether Willow may give Google a chance to take the lead in the next technological era.
Chapters:
00:00 Introduction
00:47 Chapter 1: Is quantum overhyped?
2:09 Chapter 2: Google’s breakthrough
5:25 Chapter 3: The competition
8:41 Chapter 4: Quantum and AI
12:44 Chapter 5: Interview with Google’s quantum AI director
Anchor: Deirdre Bosa
Produced by: Jasmine Wu, Laura Batchelor, Drew Troast
Edited by: Amy Marino
Camera: Andrew Evers, Katie Tarasov
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato
Additional Production: Merritt Enright
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Google Lost The AI Lead. Can Quantum Put It Back on Top?
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Bank of America’s Head of U.S. Economics Michelle Meyer predicts a slower economy in 2019 compared to last year. A slowing global economy, especially from China, is likely to have an impact on the United States. But despite the risks being higher, the economic data shows an imminent recession may not be in the cards.
She also explains why wages have improved despite an aging population. “The labor market is tight,” she says. And it’s not just for high-skilled workers, but for lower income jobs as well.
Watch the video above to hear more from Bank of America’s Head of U.S. Economics Michelle Meyer.
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What Will Cause The Next Recession – Michelle Meyer On Elevated Risks
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Speaking at the International Space Station Research and Development Conference on Wednesday, Tesla and SpaceX Founder Elon Musk said we need to build a base on the moon to help support missions to Mars and to spur public support for space exploration.
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Elon Musk: We Need A Lunar Base To Help ‘Fire Up’ The Public About Space Travel | CNBC
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For years following the Great Recession, “McMansion” were considered “ugly” or “bad investments,” mainly because they were considered unnecessarily large, had way too many amenities and built often with cheap materials. But during the pandemic when Americans sought to move to larger homes in the suburbs, they had a resurgence. In 2025, tariffs and immigration crackdowns will cause an increase on the price of new construction, helping the already built McMansions. But not all of these home are created equal.
Chapters:
0:00 Introduction
1:22 Chapter 1. The rise of McMansions
3:34 Chapter 2. The Great Recession
4:55 Chapter 3. A bad investment?
Produced Shot and Edited by: Natalie Rice
Animation: Jason Reginato, Mallory Brangan
Senior Managing Producer: Tala Hadavi
Additional Camera: Erin Black
Additional Footage: Getty Images, AP Photos, NBC News
Additional Sources: Bureau of Labor Statistics, Redfin
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Why Americans Keep Buying McMansions
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Scott Galloway, NYU Stern School of Business professor, and Recode’s Kara Swisher discuss what kind of social responsibility social media holds to curb misleading information on its platforms.
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NYU Professor Scott Galloway: Tech Has To Employ Human Discretion On Platforms | CNBC
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