Tompkins governments, Hinchey draw attention to drilling’s impact on mortgages | The Ithaca Journal | theithacajournal.com

Tompkins governments, Hinchey draw attention to drilling’s impact on mortgages | The Ithaca Journal | theithacajournal.com.

Tompkins governments, Hinchey draw attention to drilling’s impact on mortgages

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Ithaca — Mortgage rules governing gas drilling are in question following reports in The New York Times and by the Tompkins County Council of Governments’ Task Force on Drilling.

The reports have led Congressman Maurice Hinchey, D-22nd, to send letters to the Federal Housing Finance Agency and the NYS Department of Environmental Conservation, asking they initiate an examination of how mortgage rules on gas drilling will affect more than 1 million gas leases signed between shale gas drilling companies and property owners.

Some banks have policies of not offering mortgages on properties with gas leases. As a result, some landowners have had difficulty selling or refinancing their homes.

The Tompkins County Council of Governments’ Task Force on Drilling asked state officials in May to implement requirements as part of gas drilling regulations to prevent unintended negative consequences on the realestate market and county assessment rolls.

A subcommittee of the task force reported that lenders are reluctant to approve residential mortgages on the increasing number of properties where leases do not conform with regulations of thesecondary mortgage market.

Hinchey said this week that the problem can be attributed to rushing into drilling.

“Many homeowners who signed leases now have questions about their mortgages and their ability to refinance or resell their homes, because important information was not brought to their attention by drilling companies pushing to them to lease their land,” Hinchey said.

Hinchey said he has asked federal and state regulators for clarification on mortgage rules and an examination of leases that were already signed to determine the extent of mortgage violations that may have occurred.

New guidelines will help homeowners and local banks protect their own financial interests, he said.

Safety First, Fracking Second: Scientific American

Safety First, Fracking Second: Scientific American.

Delaware and Sullivan Cos survey residents on hydrofracking

FOR IMMEDIATE RELEASE: 

SULLIVAN COUNTY SURVEY

In what is believed to be the first poll to focus on New Yorkers who live in an area likely to be impacted by “fracking”, a Pulse Opinion poll reveals that 7 out of 10 Sullivan County residents do not want to see “natural gas extraction by means of hydraulic fracturing” in their town.    An even greater percent favor zoning ordinances to restrict the process.  The poll was commissioned by the not-for-profit Catskill Citizens for Safe Energy.

Bruce Ferguson, a member of the grassroots organization, said “Previous statewide polls have shown that most New Yorkers don’t think the rewards justify the risks; now we know that the great majority of people who will be directly affected by fracking want nothing to do with it.  Sullivan County residents emphatically say “No!” to fracking.”

The poll of 500 county residents was conducted between October 1st and October 3rd.  It has a sampling error of plus or minus 4.5% and a 95% level of confidence.   Residents who said they did not know enough about hydraulic fracturing to form an opinion were not included in the poll.

The questions:

Do you support natural gas extraction by means of hydraulic fracturing in your town?

27% Yes

69% No

       4% Not sure

Would you support your town enacting zoning ordinances to restrict natural gas extraction by means of hydraulic fracturing?

69% Yes

24% No

      7% Not sure

DELAWARE COUNTY RESIDENTS STRONGLY OPPOSE FRACKING , FAVOR ZONING

A Pulse Opinion Poll of 500 Delaware County residents reveals that nearly three out of four people oppose hydraulic fracturing in their town, and seven out of ten favor municipal zoning ordinances to regulate the practice.

These results are similar to those of a poll conducted in neighboring Sullivan County the preceding week.

The questions in both polls were identical:

 

Do you support natural gas extraction by means of hydraulic fracturing in your town?

                                      No              Yes            Not sure

Delaware County        72%           27%             1%

Sullivan County           69%            26%            4%  

 

Would you support your town enacting zoning ordinances to restrict natural gas extraction by means of hydraulic fracturing?

                                      Yes            No              Not sure

Delaware County         69%           27%           4%

Sullivan County            69%           24%           7%

The Delaware County poll was conducted on October 8 and 9.  The Sullivan County poll was conducted between October 1 and 3, also by Pulse Opinion Research.   The margin of sampling error in both polls is +/- 4.5 percentage points with a 95% level of confidence.   Residents who said they did not know enough about hydraulic fracturing to form an opinion were excluded for the polls.

 

Both polls were commissioned by the not-for-profit Catskill Citizens for Safe Energy.  They are believed to be the first scientific polls to measure the sentiment of New Yorkers who live atop the Marcellus Shale.

 

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Hydrofracking threatens Finger Lakes region | syracuse.com

Hydrofracking threatens Finger Lakes region | syracuse.com.

 

Hydrofracking threatens Finger Lakes region

Published: Tuesday, October 18, 2011, 5:00 AM

To the Editor:

Finger Lakes Trust

The Finger Lakes are the lifeblood of Central and Western New York. They provide clean drinking water, magnificent vistas, outstanding habitat for fish and wildlife and unparalleled recreational opportunities. They also serve as an integral part of a flourishing wine industry and support agriculture and tourism sectors that generate more than $3 billion annually for our local economy.

Here in the Finger Lakes, we clearly must accelerate our efforts to grow a more robust and sustainable economy based on the region’s rich natural resources, strong academic institutions, diversified agricultural economy, thriving tourism sector, and the inherent strengths of our populace. However, given the current technology and practices, we believe the proposed widespread use of hydrofracturing and horizontal drilling for natural gas poses unacceptable risks to the future well-being of this region and its residents. The lure of near-term economic gain is substantially outweighed by the potential for long-term harm to the region’s land and water resources as well as its economic competitiveness.

Despite the development of a lengthy environmental impact statement, New York state has failed to adequately address critical concerns regarding shale gas exploitation that are vital to the future of our region:

Through its proposed regulatory framework, the state provides a higher level of protection for the watersheds that supply drinking water to New York City and Syracuse than it does to the Finger Lakes watersheds, despite the fact that each of the Finger Lakes serves as a public drinking water supply. While these two watersheds are indeed unfiltered drinking water supplies, leading experts are very concerned that conventional water treatment techniques currently applied on water from the Finger Lakes will not remove all harmful components found in the fracking fluids that are used today.

In the draft impact statement, the state fails to address the huge cumulative environmental impact of a process that is expected to involve the construction of thousands of gas wells, thousands of miles of access roads and pipelines and other associated infrastructure.

The state also fails to address potential adverse impacts upon the region’s vital agriculture and tourism industries. A study incorporated into the impact statement simply states that the implementation of widespread gas drilling “could have a negative impact on some industries such as tourism and agriculture” and yet fails to provide any detailed analysis of potential impacts within the Finger Lakes region which could well be significant.

The draft impact statement fails to address threats to the region’s most significant land resource: sites recognized as priorities for conservation in New York State’s Open Space Conservation Plan, which is a public policy document based on nearly 30 years of input from community leaders, public officials and staff from the state’s Department of Environmental Conservation.

Until the state and the natural gas industry adequately address these issues, we oppose the use of hydrofracturing and horizontal drilling for natural gas exploitation within the watersheds of the Finger Lakes.

For more than 20 years, the Finger Lakes Land Trust has worked cooperatively with landowners, local communities and New York state to conserve nearly 13,000 acres of the region’s most cherished open space lands. The Land Trust is not typically involved in public advocacy. In this case, however, we feel compelled to speak out as the risks posed to the future of our region are simply too great.

We strongly encourage the state to fully address the serious concerns addressed above before allowing the use of hydro-
fracturing and horizontal gas drilling techniques, and to work with the federal government and the natural gas industry to develop extraction techniques that are compatible with conservation of the region’s natural resources and its natural resource-based economies.

Andrew Zepp is executive director of the Finger Lakes Land Trust, based in Ithaca. W. Stuart Schweitzer is president of the board of directors.

How Gas Extraction Affects Home Values, Agriculture, Town Budgets

Citations: How Gas Extraction Affects Home Values, Agriculture, Town Budgets.

Marcellus Shale activity costs mounting – Lockhaven.com | News, Sports, Jobs, Community Information – The Express

Marcellus Shale activity costs mounting – Lockhaven.com | News, Sports, Jobs, Community Information – The Express.

Documents: Mortgages and Gas Leases – Document – NYTimes.com

Documents: Mortgages and Gas Leases – Document – NYTimes.com.

Rush to Drill for Gas Creates Mortgage Conflicts – Ian Urbina, NYTimes.com 10-20-11

Rush to Drill for Gas Creates Mortgage Conflicts – NYTimes.com.

Check out this article in today’s New York Times:
There’s some really important documents that explain out all of the details about what the conflicts are and what rules are being broken.  You can read through them here, and they’ve got little bubbles that show you what the important parts are and what they mean.  Very worth checking out.
It makes sense. Fracking for shale gas and oil requires thousands of wells, many of which are drilled near where people live.  Drilling accidents and the environmental problems with fracking happen on land that people own, land that people have mortgages on, land whose property value will plunge if the water goes bad or people get sick.  The mortgage industry wrote up rules that are supposed to protect banks against these risks.  These rules would bar wastewater impoundment pits near people’s houses, would require minimum distances between a home and a gas well, would give the bank the right to review the lease the landman was offering so they could make sure the gas company wouldn’t be allowed to tear up the surface of the land.  But these rules aren’t being followed.
Check out some of the documents that explain how some small bankers and credit union officials see the problems: