Statoil, Norway’s national oil company, has created and is testing a device which captures gases released and burned as part of the fracking process. This burning process, referred to as flaring, is both polluting and wasteful. Statoil hopes to recover about a fifth of the released gas to power equipment on site, as well as petrochemical production.
Fracking Efficiency Device from Statoil to Come Next Year
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Gold fell below $1,200 an ounce in London and New York for the first time since June amid an improving U.S. economy and the Federal Reserve's announcement yesterday of plans to scale back on its monetary stimulus bond buying in January 2014.
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