In national industrial news:

U.S. oil firms have filed a lawsuit to prevent the implementation of new rules through the Department of the Interior that will require companies fracking on federal land to reveal the chemicals they use, meet construction standards for wells, and safely dispose of contaminated water. Fracking has picked up steam in the last decade and contributed to the crude boom behind the precipitous drop in oil prices dating back to late last year. A study for the Western Energy Alliance had estimated federal regulation would add $97,000 to the cost of each well, but the government put the cost of compliance at $5,500 per well. Supporters of the new regulations, including environmental groups, have stated that the waste water rules will protect aquifers and allow for more transparency. However, many critics, including the Natural Resources Defense Council, have said that the rules do not go far enough.

Read full coverage from Insurance Journal here.

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