U.S. unveils new fracking rules on federal lands

The Obama administration on Friday unveiled its first major standards for oil companies that frack on federal lands, including beefed-up safety measures to protect groundwater, prompting industry complaints they will be a barrier to growth.

According to Reuters, the rules require energy companies to strengthen boreholes and take other steps to prevent leakage, as well as provide data on the types of chemicals used to extract cruide oil and gas out of the ground.

Hydraulic fracturing, or fracking, is a controversial process that involves pumping water, sand and chemicals into a well to extract oil or gas. Environmentalists say fracking poses health risks.

Read more from Reuters.