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If you want answers to the liability issue, ask the state and local officials who will be drafting the regulations and granting the permits for drilling and the fracking that goes with it.
In the IT industry, all sizable software systems are typically required to have a Disaster Recovery Plan in place in the event of a catastrophic failure.
Fracking should be treated by the regulators no differently, and a complete DRP should be in place prior to issuing a permit.
The liable party will be defined by the regulators, and that entity will be responsible for submitting the DRP and for executing it in the event of a failure.
Some of the requirements for the DRP may include: having a liability insurance policy in place to cover anticipated costs; defining the affected area of responsibility and paying for pre-drilling water tests for all water sources so a baseline of purity is established; paying to supply water to all of those defined areas in the event of a disaster, etc.
We have been using fossil fuels for more than a century. All of this country's industrial base and our current standard of living have been driven by the abundance of cheap fossil fuels.
Despite the climate change supporters' efforts to shut down fossil fuel production, it is not going away anytime soon.
If half of the scientists touting global warming had put their brainpower into creating a solution to fossil fuel power plant emissions, that issue would have been solved by now. Those same scientists could also expend a little energy toward making fracking safer.