but this is shale under a microscope. the dark spaces are where the gas is, and it's everywhere. >> mcclendon: oh, here's a great one. for example... >> stahl: that's what's going on in the middle of this thing? >> mcclendon: yes. >> stahl: the breakthrough in extraction happened when two existing technologies were combined. the first involved accessing the shale by drilling sideways underground. >> we're currently over two miles down. >> stahl: two miles down... >> two miles down. now, later today, we'll turn the bit from vertical to horizontal along this path, and then we'll drill in our target zone for a mile down to the south. >> stahl: the other technology is hydraulic fracturing, or "fracking," where millions of gallons of water, mixed with sand and chemicals, are pumped down the well at enormous pressure. >> we break the rock. we fracture the rock. and that stimulates the ability of the gas to flow into the well bore where we can flow it to the surface and sell it. >> stahl: in light of the b.p. oil spill in the gu

s first big play in shale energy. that deal helped prices of shale gas producers. range resources has grown its presence in the marcellus shale area in the appalachian mountains. look at this one. nice move today. shares led the energy sector, jumping 12%. volume was five times average. the rally takes r-r-c to a new 52-week high. this is its highest close in three years. others with shale gas business saw plenty of buying interest. pioneer, cabot and chesapeake rallied at least 9% each. after last night's blowout earnings, google was the top tech stock today, up 13%-- no surprise, holding on to after-hours gains. shares rocketing just below $600 per share. with the jump, shares are at their highest price since march. nice volume for google. the laggard in technology was also earnings-related. flir systems makes thermal- imaging devices. the stock dove 10% to drop below $30 per share for the first time since january. the company warned of weaker results due to less government spending. clorox shareholders have had quite a week. the stock ended with a 9% rally looki

we've gone to this shale and other shales around the country, so to suggest that limiting access to vertical wells to allow the same kind of technology, and it's a combination of the two to develop these new and extensive shale formations. >> thank you, mr. chairman. >> you're here today, i get a sense that you're speaking for the people of shenandoah valley . >> no, sir, i think i'm here to provide a perspective that i've observed from the valley. >> so really, you're speaking for yourself? >> yes, and i feel confident speaking for the organizations i work with. >> you haven't brought any surveys or data? >> i have brought with me five resolutions from local governments. >> i'm not talking about government or government officials. i'm talking about the people. i assume hundreds, thousands, maybe hundreds of thousands of people, there's been no survey -- >> sir, i'm sorry, go ahead. >> has there been any survey -- i'd love to have that data if you have it here today. >> i'm confident -- >> i don't want to hear what you're confident about. i want to know the data. do you have any data, yes or

in addition, these are sandstone and shale. they have been uplifted and faulted and put into the position they are in today. on the cliff face, you can see the bedding of the shale. there are vertical cracks that filled the water and plans is growing. -- and plants are growing. the cumulative effect of the fresh cut with the debris sitting on the ledge, luckily we have a chance there to protect us from rocks going on the street. >> this is one type of rock salt and we will look at a few others. what will we see? >> i think it would be appropriate. we have been talking about rock salt. there is instability that occurs at telegraph hill. this was more in the earth flow and debris flow kind of movement. this moves downhill as a result of the rations from the earthquake. that is where we are headed next. >> here we are on the next stop of our landslide for parent though this is the lagoon ouna a area. this is different from where we all were just add on telegraph hill. this is a whole different concept. tell us what we have to. we

that is where the shale deepwater horizis. only three years ago, we had no idea what it was or would be in the future. it's had a tremendous impact on our economy. $11 billion so far. jobs. poor parishes that are now doing well economically. we see police departments, infrastructure, all of these things being improved. local government. high-paying jobs. and we're beginning to meet the country's needs in terms of natural gas. i can tell you that we have not seen any significant problems. and so it really is beyond me to wonder now with a 9.2% unemployment rate, with energy costs as high as it is ever bent, and the country in such a desperate economic situation and a technology that is 50-60 years old, and has been proven safe and the epa said was safe, why in the world would we be thinking about getting this type of technology which is so essential not just for gas but for the future of oil domestically? my question, for instance, do you -- what is a typical depth of drilling iin the horizontal drilling process? >> i'm not awa

. >>> natural gas produced from shale is proving to be quite the job creator in some states and couldp energy prices down. but the extraction process is not without its critics. senior national correspondent, john roberts takes a fair and balanceed look. >> protesters tried to shut it down. but the economic benefit of shale gas, so-called fracking, may be irresistible in an industry sponsored report, pep state university researchers found pennsylvania is now producing enough gas to be self-sufficient, even exported. by 2020 it will have enough to supply a quarter of the nation's natural gas needs. >> we are looking at jobs, economic development, tax revenue from the industry in pennsylvania. that is truly, you know, phenomenal and actually at this point, a national scale story. >> pennsylvania department of labor says gas exploration created 72,000 new jobs in just the last 18 months. the penn state report found the impact to be especially broader. supporting a total of 156,000 jobs in the state this year. john pickerton is the ceo of range resources. >> that has been the biggest econ

fracturing and no horizontal drilling means no natural gas or oil from shale and no energy security. marcellus is progress upwards of 100,000 jobs to pennsylvania alone. significant new tax revenues to the state and over $200 million to build new roads. none of that with taxpayer dollars and a manageable amount of natural gas in the country. after only four years of production and being less than 10% developed the marcellus has provided the the northeast united states with over 10% of its natural gas. aside from the jobs both direct and indirect in the private and public revenue it creates the shale boom is stabilizing natural gas markets in the united states. access to affordable natural gas are we impacts consumers because the production of shale gas brought by the horizontal drilling, or citizens can afford to heat their homes is wonder and the price of many goods produced from natural gas so no increase the cost because of gas prices. natural gas which sold four years ago for a record price of over $13 per 1000 cubic feet has been stabilized around $4.50. dow chemical and other p

because of the production of shale gas by the horizontal drilling, our citizens could afford to heattheir hope, and the price of many goods are no increase in cost because of gas prices. natural gas which sold four years ago for record prices of over $13 a cubic feet has been stabilized to $4.50. they were set to move offshore just a few years ago because of high and unsustainable natural gas prices. fortunately, because of our ability to produce shale gas and fracturing, they are now planning to expand the operations in the united states. jobs. make no mistake, our affordable and predictable natural gas prices are the direct result of the ability to produce it through horizontal and fracturing. it will have it's challenges. i am convinced we can meet the challenges and do it effectively. knowing the need for affordable energy which we are blessed with, i'm extremely concern about the forest service placing a moratorium on applications for permits to drill any quote, horizontal well fracturing. not only does it under mine the mission of use, but it also comes at a time when we are be

typically graded and then hydro seeded with less but these are grass which clings to the compacted shale and rock that now makes up the topsoil nature builds soil for free but she creates the soil very slowly and so you're talking about thousands of years ago from something like a rock mass that has essentially no soil or is the very thin covering up to generate a few centimeters of soil you're talking about hundreds of thousands or tens of thousands of years continuing at its present rate the projected loss from mountaintop removal mining is one point four million acres in the next decade an area equal in size to the state of delaware by the summer of two thousand and six at wylie has formulated a new plan for pennies a promise. our government shako do it or a local school board state school board or do it in the way it should listen to you know entire grandparents it's up to you to get the job the pretty kids you know we're going to go raise the money for school one way or the other the overall place we built in our community. that's the key to it showing that our government didn't com

now it turns out new york is over the northern part of what's call the marcel us shale formation and fracking it will help free us of dependence on foreign oil. you see america has two saudi arabia's worth of oil in the form of natural gas. two saudi arabia's worth of oil so put that into perspective, that's as much oil as six iraqs or one side of sonic tater tots. my only worry, folks, my only worry is we will become two dependent on ourselves and end up invading pennsylvania. that place is a quagmire full of religious extremists and fanatics. unfortunately -- (applause) unfortunately hydro fracking has come under fire for causing other things to come under hire. >> these chemicals which are very dangerous neurotoxins and carcinogens and the gas itself migrate into the aquifers and you get this kind of situation where people can all of a sudden light their water on fire. >> i say this is an improvement. what would you rather have in your kevin, a boring old water faucet or a built-in creme brule maker. and that's just -- this is just the beginning of the anti-frack attacks out there

it is predominantly sandstone and shale. it was the shape of a dome. it was dome shaped. because san francisco was growing, because they needed the dike, that allowed miners to come in and open quarries. and they blasted. they had no concern about environmental issues, no concern about how they would leave the quality of the rock. as a result, they opened up fractures in the rocke. even today, we are paying for their mining negligence. we read it just last year where 455 vallejo, there was a rockslide that affected properties on broadway and montgomery. at rock slide occurred because of blasting that occurred back in the turn-of-the-century that left the rock week. 100 years later, the weak rock cannot stand there anymore and it fell. this slide is a long sansome street, where the city chose to protect sansome street and the cars, and they built this catchment wall. the sole purpose of this wall is to catch rocked that falls from private property. >> and every year or two, we get a call saying that rocks have fallen down the road and spilled over. this is the famous slide

it is predominantly sandstone and shale. it was the shape of a dome. it was dome shaped.ause san francisco was growing, because they needed the dike, that allowed miners to come in and open quarries. and they blasted. they had no concern about environmental issues, no concern about how they would leave the quality of the rock. as a result, they opened up fractures in the rocke

and probably more important, he wants to overturn the em peer state ban on the type of natural gas shalelling known as fracking, it could lead to a boom in upstate new york and a big hit for american energy. >> paul: thanks, joe. colin. >> yeah, i want to give a hit to john lennon, former assistant, who basically confirmed the beatles brilliance this week when he revealed that he was a fan of ronald reagan later in life and apparently having met the gipper in the '70s and thought he would be a better choice for earthquake m -- america than jimmy carter and thought he'd been a little naive earlier in his life. >> paul: you're not supposed to appropriate the beatles, that's my generation. if you have an e-mail jer.com and jer@foxnews.com. and thanks to my panel and for all of you watching, i'm paul gigot, we hope to see

stuff for between bahrain sunni led government on the shale position following months of anti-government protests that claimed the lives community in bahrain claims that longstanding discrimination against the majority group thousands of people participated in nationwide demonstrations demanding fair political representation. all short of their goals wife maria shriver has filed for divorce after twenty five years of marriage the kennedy era cited irreconcilable differences and ask for custody of their two children it was revealed in may that's false and a guy had a child out of wedlock over ten years ago he was elected governor of california in two thousand and three and left his post in january to resume his acting career. now the star studded international film festival in moscow is heading for a few should be a dramatic climax the window of the best film will be announced at the closing ceremony later on today seventeen films from around the world are competing for the percentage of said george awards hollywood stars descended all the russian capital for the premiere of the transform

space shale play. the american physical society concluded was a hoax but nonetheless billions of dollars were spent on research do you think that the current missile defense program also could turn into a hole where money goes and disappears despite what the scientists are saying well you know space based defense has been proven to be knocked feasible idea because you.

or utica shale in my party of -- part of the state or shale formations across america but we have oil supplies that have been identified and available to us if we just unleash those resources we have to say, we go after these resources in a clean, responsible manner, environmentally safe and everybody i talk to supports that on our side of the aisle. no one here is going to destroy the environment for the sake of getting energy out of the ground, for the sake of hurting our children or grarne. that's not what we stand for. but we stand for focusing on those energy supplies that are here and promote those energy supplies so that we have a source of energy that's dependable, that will provide us with long-term, low-cost sources of energy supplies to our manufacturing and industrial bases and reignite america again so we become a power house in the area of employment. and put our people back to work. so those are four key principles that we bring to the table and one additional piece that i'd like to talk about tonight that is ripe and ready for us to take is the expansion of opportuniti

the clerk: page 25, line 1, naval petroleum and oil shale reserves. $9,929,000. strategic petroleum reserves, s.c.r. petroleum accounts, $500 million. northeast home heating oil reserve, $10,119,000. energy information administration, $105 million. nondefense environmental cleanup, $213,121,000. the chair: for what purpose does the gentleman from utah rise? >> i have an amendment at the desk, mr. speaker. number 39. the chair: the gentleman will send his amendment to the desk. choipt clerk will report the amendment. the clerk: -- the chair: the clerk will report the amendment. the clerk: after the dollar amount insert increase by $10 million. page 33, line 20, after the dollar amount insert reduce by $10 million. the chair: the gentleman is recognized for five minutes. mr. matheson: thank you, mr. speaker. mr. speaker, in the report language from the committee report for this bill the appropriations committee included some language talking about concern about the lack of remediation activity taking place around the country at various department-sponsored faciliti

knowing every move shale make and speculation whether she'll try to make money off this.s will drum this up even more. >> can you talk more, though, about her safety? as i understand, there is a lot, there's a big effort going on to try to protect her. not only her, her family as well. is her safety really at risk here? >> it's hard to say. the judge said that this is something he's very concerned about. the sheriff's office. the jail. you know, everybody's very concerned about this. there's only so much that everyone can do, if it's -- it's a free country. you can't lock down the entire country. a lot of it will be up to her. where's she goes and what she does. the more she's out in public, the more there would be an opportunity for somebody to act out like this. i think, you know, the majority of people that are, even the people that are extremely upset about this, the farthest they're willing to go is to the streets. hold up signs. chants at the free speech zones. you never know. it only takes one person. so there's only so much can you do and i think a lot of it will