Governor McCrory signs North Carolina fracking bill
RALEIGH (WTVD) -- Gov. Pat McCrory signed North Carolina's new fracking legislation into law Wednesday.
McCrory said that he thinks the bill puts very good rules in place that are comparable to other states.
"We remain intensely focused on creating good jobs, particularly in our rural areas," said Governor McCrory. "We have watched and waited as other states moved forward with energy exploration, and it is finally our turn. This legislation will spur economic development at all levels of our economy, not just the energy sector."
The bill moved quickly between the Senate and House last week, passing easily.
Fracking is a method of extracting oil and gas by injecting high-pressure mixtures of water, sand or gravel and chemicals into rock. Permits for the practice could be issued by next May.
The bill lifts a 2012 moratorium that blocked permits until a state regulatory commission created what supporters called state-of-the-art safety and operating rules.
Critics say the bill passed gives lawmakers less time to object to those rules and changes how permits would be issued.
But the McCrory administration says the industry will likely bring as many as 500 new jobs to the state over the next seven years and generate $80 million in new income.
"The expansion of our energy sector will not come at a cost to our precious environment. This legislation has the safeguards to protect the high quality of life we cherish," said McCrory.
