How could a gas well be so profitable that it would be worth damaging the NYC water system?

A natural gas drilling company, Chesapeake Energy, recently withdrew its request to drill in NYC’s watershed, which falls within the Catskill Mountains. “How could any one well be so profitable that it would be worth damaging the New York City water system?” CEO Aubrey McClendon was quoted in a NY Times article.

However, Chesapeake and other companies will still pursue drilling opportunities in watersheds across upstate New York.

At least 37% of Tompkins County land area is leased for natural gas extraction, according to the TC Gas Map, which offers a detailed geographic look at the issue.  In total, about one third of the county's land is farmland.

The New York State Department of Environmental Conservation recently released a 800+ page draft of proposed environmental regulations, and the public comment period is open until November 30, 2009.