FT: KKR co-founder defends fracking

KKR co-founder Henry Kravis on Thursday downplayed the environmental risks of fracking, the drilling technology that has fuelled the shale gas boom in the US.

In the past few years, private equity groups such as KKR, Apollo and First Reserve have accelerated investments in companies using so-called hydraulic fracturing, or fracking, to extract unconventional gas reserves. The technology, which involves pumping highly pressurised water, sand and chemicals into the ground to break tight rock formations to release gas, has triggered concern it may contaminate water tables.  MORE