NC Attorney General recommends more consumer protections on potential fracking |
Written by David Horn
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Wednesday, 02 May 2012 09:53 |
(RALEIGH) -- After a study conducted by the Consumer Protection Division of the North Carolina Attorney General's office, Attorney General Roy Cooper released a report outlining a number of recommendations. The report concluded that landowners and homebuyers need additional legal protections if North Carolina is to pursue fracking, a controversial method of extracting natural gas from shale rock.
“Property owners need to be protected if North Carolina is going to move forward with fracking,” said Cooper. “Consumers who are considering leasing their land for gas exploration need to be aware of the risks, and they also deserve to have critical legal protections in place.”
The General Assembly is currently considering whether or not to allow fracking. The report issued Tuesday recommends several legislative changes to strengthen protections and identifies areas needing further study.
Among the provisions Cooper would like lawmakers to consider are requiring written disclosures for consumers and approval by mortgage lenders when oil and gas companies seek a lease on land for oil and gas exploration. He also wants a provision that would require prompt payment on leases by oil and gas companies. There are also a number of requirements Cooper proposes that would protect consumers and mortgage holders related to damage to land and inconvenience.
The entire report is available on-line at ncdoj.gov.
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Last Updated on Saturday, 05 May 2012 00:01 |