THE INTEGRATION OF BANKING AND TELECOMMUNICATIONS: THE NEED FOR REGULATORY REFORM

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640 JOURNAL OF LAW AND POLICY

long term growth from hydrofracking, and the danger posed to
tourism and agriculture. Some academics and economists have
disputed recent reports about the economic benefits of
hydrofracking.^60 Specifically, the accuracy of a recent
Pennsylvania State University study in favor of hydrofracking
has been called into question by reports that its funding came
from oil and gas companies.^61 Other experts and scholars dispute
the number of jobs that would actually be created due to the
“capital intensive” nature of hydrofracking.^62 There are also
concerns over whether any job creation would be sustainable
over the long term.^63 In addition, many landowners are nervous
about hydrofracking’s effect on New York’s large agricultural^64
and wine businesses.^65 Damage to farmland could lead to an
increase in milk prices.^66 Furthermore, increased ozone
emissions from hydrofracking could negatively affect soy and
grape production.^67 Vineyard owners, some of whom are on the
northern fringe of the Marcellus Shale, are concerned about


(^60) Jim Efstahiou Jr., Penn State Faculty Snub of Fracking Study Ends
Research, BLOOMBERG (Oct. 3, 2012), http://www.bloomberg.com/news/
print/2012-10-03/penn-state-faculty-snub-of-fracking-study-ends-research.html
(reporting that a recent hydrofracking study at Pennsylvania State University
study was canceled after criticism from faculty members that the report was
biased in favor of the hydrofracking industry).
(^61) Id.
(^62) Carolyn Krupski, Experts Debate Effects of Fracking on New York
State Economy, Environment, CORNELL DAILY SUN (Nov. 16, 2012),
http://cornellsun.com/node/54307 (noting that since hydrofracking is capital-
intensive, jobs are often only associated with the construction of the wells,
and once the wells are complete there is often less need for labor).
(^63) See id.
(^64) See id. (describing the danger posed to New York’s agricultural
commodities from hydrofracking based on the effect of hydrofracking in
Pennsylvania and possible increased ozone emissions).
(^65) See Michael Hill, Wine and Fracking Don’t Mix, Say Vineyard
Owners, ASSOCIATED PRESS (Oct. 23, 2012), http://bigstory.ap.org/
article/wine-and-fracking-dont-mix-say-vineyard-owners (noting the fears of
upstate N.Y. vineyard owners that hydrofracking will negatively impact their
businesses).
(^66) See Krupski, supra note 62 (noting the negative impact of
hydrofracking on agriculture and milk prices in Pennsylvania).
(^67) Id.

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