"It's currently unlikely that we will see a lot of new oil and gas development in Michigan in the near future, due to low gas prices and the high cost of recovering gas from Michigan's shale formations,"
Johannes Schwank, U-M chemical engineering professor
TRAVERSE CITY, Mich. (AP) -- A new study says Michigan may have large natural gas deposits deep underground, but that low prices and high extraction costs make a development boom unlikely anytime soon, if ever.
The University of Michigan has produced seven reports on "fracking," the controversial method of pumping large volumes of water and chemicals deep underground to free gas trapped in rock formations.
Supporters say it's been used safely in the state for decades. Opponents say it's dangerous to humans and the environment and they want it banned.
The reports released Thursday say Michigan's abundant water resources mean fracking shouldn't cause shortages if properly managed. But they say the interconnected networks of streams and lakes would make it hard to contain pollution from spills or runoff.