What are the negative externalities of fracking?

I selected this question because the concept of “externalities” is a growing concern for businesses and as a future business leader, I am interested in learning more about steps that I can take to internalize externalities. Also, there is significant controversy surrounding the “fracking” method of extracting oil. read more

Businesses that utilize fracking are not legally obliged to pay for the resulting negative externalities, but in an effort to improve their reputation and/or generate goodwill, it may be in their best interest to take steps to reduce these externalities. read more

In the context of fracking, it is difficult to negotiate to achieve a Coasian solution because the negative externality of higher levels of radium is not clearly defined– basically, without testing the water, there is no way to understand the negative externalities associated with fracking wastewater. read more

Fracking releases natural gases into the air, reducing the air quality in the surroundings. There is research done from Utah and Colorado showing that fracking has polluted the ozone layer. This is hazardous for humans living close to a fracking site, and can cause lung diseases. read more