Who pays the real costs for oil from shale? : Climate and Capitalism: "If you externalize the costs of a business activity, it means other people pay the costs—environmental, social and otherwise—and you get the profits. It goes on all the time in extractive industries such as oil and natural gas and mining. And, it is also a natural strategy for manufacturers who dump their pollution into the air and the water.
...If the loopholes are there, you can be assured that people in business will take advantage of them. That’s exactly what is happening in the business of shale gas drilling. Drillers are exempt from federal clean air and water regulations under a bill shepherded through Congress in 2005 by none other former Halliburton CEO Dick Cheney in his capacity as the then vice president of the United States. (Halliburton is one of the world’s largest providers of drilling fluids for shale gas drilling and other oil and gas drilling operations.)"