Global Warming is Real: The oil and gas industry use a tremendous amount of water. An average of about 10 barrels of water are produced for every barrel of oil in the U.S. Water use for oil production can affect the availability of water for other uses and can even impact aquatic habitats. Hydraulic fracturing, better known as fracking, produces large amounts of wastewater containing contaminants. That wastewater is often injected into deep wells, and injecting it can cause earthquakes.
A group of almost 100 institutional investors representing $6 trillion in assets recently announced the launch of a campaign called Fueling Water Disclosure to promote sustainable water resource management in the oil and gas sector.