Private model is best for oversight of hydraulic fracturing
UL arose at a time when electricity was changing the world and concerns over fire safety were paramount. Today the concern over the effects of hydraulic fracturing on water supplies is paramount.
Society has a choice: It can encourage the industry to better regulate itself, as UL does for manufacturers. It can boost state regulation of fracking. Or it can let a federal bureaucracy take over regulation.
Clearly, the US Environmental Protection Agency would like to take over fracking regulation. State regulators such as the Oklahoma Corporation Commission would like for that not to happen.