Physical Sciences and Mathematics Commons^™

Managing The Risks Of Shale Gas Development Using Innovative Legal And Regulatory Approaches, Sheila Olmstead, Nathan Richardson

William & Mary Environmental Law and Policy Review

Booming production of oil and gas from shale enabled by hydraulic fracturing technology has led to tension between hoped-for economic benefits and feared environmental and other costs, with great associated controversy. Studies of how policy can best react to these challenges and how it can balance risk and reward have focused on prescriptive regulatory responses and, to a somewhat lesser extent, voluntary industry best practices. While there is undoubtedly room for improved regulation, innovative tools are relatively understudied. The liability system predates environmental regulation yet still plays an important—and in some senses predominant—role. Changes to that system, including burden-shifting rules …