Dominion Resources Fracking 2012
|Company||Dominion Resources, Inc.|
|Subject(s)||Community Impacts; Hydraulic Fracturing; Water Pollution|
|Resolved Clause Summary||Hydraulic fracturing impacts|
|Supporting Memo||Download PDF|
WHEREAS, Dominion Resources is a vertically integrated energy company providing a full array of energy-related operations and services, such as the generation, transmission, distribution and marketing of electricity.
Dominion Resources has published plans to significantly expand its capacity to generate power from natural gas by thousands of megawatts and export liquefied natural gas. These plans would likely increase natural gas production by increasing consumption within the United States and abroad.# This higher natural gas production potential is due to hydraulic fracturing techniques.
Obtaining natural gas through hydraulic fracturing techniques has significant impacts on the environment and public health, and greater consumption and export of natural gas increases prices. These techniques use enormous amounts of water, mixed with millions of gallons of chemicals. Natural gas obtained from hydraulic fracturing increases the amount of carbon pollution over the life cycle of its use.
When produced and consumed, natural gas also emits smog-forming nitrogen oxides which contribute to decreased public health outcomes. The Environmental Protection Agency has recently proposed public health protections to reduce these impacts.
Natural gas prices have also been extremely volatile over the last few decades. This price volatility creates risk for companies and customers reliant on natural gas, including Dominion Resources. While increased production due to hydraulic fracturing techniques may reduce this price volatility, increased consumption by companies like Dominion Resources and the risks associated with water and air pollution increases pressure on prices.
RESOLVED: Shareholders request that Dominion Resources publish a report at reasonable cost and omitting proprietary information, by February 2013, on the environmental and public health impact and risks of increased extraction and the company’s use of natural gas.