Fracking: What Are The Risks?

Breitling CEO Chris Faulkner Addresses Drilling Concerns.
3:00 | 08/02/12

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Transcript for Fracking: What Are The Risks?
Chances are you've heard about fracking the controversial. Drilling process used to acquire natural gas. But you know exactly how it works is at stake here to give us his viewpoint on fracking. It's Chris Faulkner CEO of -- oil and gas hi Chris thanks so much for joining -- think you. So let's with fracking 101 how exactly does the process work. Both the technique that we use at the end of the drilling process of an oil or gas well and essentially. What it is is a mixture of fresh water. Stand to act as a profit. In a little bit a chemical which lubricates the stand -- injected down the well board that very high pressure. It without water and sand mixture hits the brutal formation that we're targeting about two miles beneath the -- surface it cracks it open. And allows the traps oil or gas to flow to the surface. And the problem I guess is with those chemicals correct. They they -- they are toxic those chemicals can you tell us which chemicals are in not mixture. Each. A -- recipe has a different mixture of chemicals in some of them -- -- household products things you would find. In your in your swimming pool area or your home. But again they're not to be ingested in lot of folks have concern about that but one thing the industry is doing. And we actually have our own R&D program around with Colin -- -- which is paid for research and development initiative. To remove all of the chemicals from the -- recipe and replaced them. With food grade safe additive so it for example a bacteria that we need in that mixture could come from an apple. In then if you ingested or drink that -- recipe it would be of no -- consequence to you and I think that's only a couple years away. Well that's something great -- -- -- -- there have been lots of cases of people having their drinking water contaminated near fracking sites. Why not considering the controversy and considering -- -- emotions over this issue why not just wait let's put on hold until let's say it like you said. I think if if the procedure done properly and it's been used since 1941. Fracking started in Kansas -- way back -- over a million wells have been frat successfully and safely. I think the process is safe now. But also America is at a turning point in his energy independence. With fracking we have now found so much natural gas that we have a supplier of over 200 years of it. So we need to continue forging Ford is safe manner and I think that fracking has allowed us now. To curb our foreign oil and foreign imports of natural gas -- actually be on the road energy independence for the first time since 1953. So now that the time to throttle back its upon the throttle forward. In a safe -- A lot of folks say we've already done that would got a lot of natural gas right now why not. Wait -- some of these studies are coming up -- lot we don't know about fracking about the effects of fracking on in on the environment and on people who live near fracking. Why put them and even the tiniest bit of danger until we're certain about the -- -- I wouldn't put them in any sort of danger and has an oil and gas company. We follow the regulation at a state level and they already take great links to protect. The water awful for so for example when we drill near water -- for or through it. We have to set steel pipe fitting case that in submit to protect up awful -- gonna give -- -- -- occurring. At three to 400 feet below the surface not very deep at all armed fracking two miles below that -- that -- -- conductivity between those two. Is nil and thought I don't believe it but I thought that was anyone put in harm's way. Then I think -- that process would not be used by us as a company but I feel certain and our record. Is spotless and I don't think there's any concern. Of -- water contamination from fracking from what I've seen -- actually reports have come out saying it is safe. And then there's a contradictory report that comes up behind that and it's not so we have -- -- all that information -- you are right. That information is coming in daily. And there's a lot of controversy from environmentalists about the process -- on my side -- my viewpoint. I wholeheartedly believe it's 100%. -- -- off fracking companies are not created equal some have better safety records and others. You know what I'm saying is that everything in life has risk and I think every task that a human being does vs a robot for example where computer. Could make a mistake so certainly if someone makes a mistake in the process that doesn't follow the -- procedure. Then something could happen a negative result or consequence could occur what I'm saying though if done correctly it is safe. But I can't speak for every single person in our industry. Right all right now here in New York there are you know there are some citizens concerned about. The plan to allow fracking in the western part of the states I know that Governor Cuomo is considering it right now what would you say -- -- Well you're discussing the -- drawing near the watershed in there's obviously if there was contamination in the watershed that feeds you know tens of millions of people's water supply. That would be a huge consequence. And I think that we would need to have additional starting to look at the geology in that area. -- learn more about the consequences that could a car in what are the likelihood they could because again. We're not in the business of contaminating drinking water when the business of retrieving oil and gas from the ground in a safe manner to power America's energy needs so. The good house to outweigh the bad. -- wholeheartedly. Absolutely -- Chris Faulkner CEO -- brightly oil and gas thank you so much for joining us today to talk about this. Sensitive and controversial subject thank you thank you.

This transcript has been automatically generated and may not be 100% accurate.

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