Is the current top-down bureaucratic hydraulic fracturing regulatory system the best way to mitigate its rare risks? A property rights approach, which holds people accountable for their actions, may be more effective and efficient.
Hydraulic fracturing regulations are inefficient and ineffective, yet property rights and water markets can reduce its risks and take advantage of its benefits.
Advancements in tracing technology enables the use of insurance, surety bonding, self-regulation, and third-party certification to more effectively regulate hydraulic fracturing.
