Cramer: New Federal Fracking Rules Would "Threaten The Nature Of Our Thriving Energy Economy"

The Obama administration unveiled today a draft of the first ever federal regulation of hydraulic fracturing.

The Interior Department unveiled a revised proposal Thursday to regulate the oil-and-gas development known as “fracking” when it occurs on federal and Indian lands.

It’s Interior’s second swing at the delayed rules for hydraulic fracturing after the department in January pulled back a proposal from mid-2012.

“The new proposal maintains important safety standards, improves integration with existing state and tribal standards, and increases flexibility for oil and gas developers,” Interior said in a statement Thursday.

Rep. Kevin Cramer, from North Dakota where fracking is the key to the state’s strong economy, is saying these new rules will be bad for our economy.

“As North Dakota’s own Mineral Resources Director Lynn Helms accurately pointed out last week in the House Natural Resources Committee, it is simply not possible for the federal government to create its own standard on hydraulic fracturing without interfering with state and local laws,” cramer said in a video release (see below). “The implementation of this rule would threaten the nature of our thriving energy economy and have punishing consequences on everyone from rig workers to restaurant owners to new college graduates throughout North Dakota. As North Dakota strives to lead the way toward national energy security, I struggle to think of a more harmful regulation for our federal government to pursue.”

Is this really about protecting the environment? The states seem to be doing an adequate job as-is in terms of regulating fracking. Why do the feds need to step in? Other than their typical desire for accumulating power?