IMO this is one of those things that shot out of the gate so fast that the regulations haven't been able to keep pace.
I'm all for cheap fossil fuels. who doesn't like a bit of relief at the pump after $4-5/gallon gas. Dropping 60 bucks to fill sucks. And I can't say that seeing the Saudis and their ilk take a solid kick to the nuts isn't more than a little satisfying.
What I'm not in favor of is cheap gas at any cost, regardless of risk or consequence.
When you can light the tap water in a community on fire something is wrong.
As with a lot of things (Big Pharma I'm looking at you) I think these people know how to get a result, in this case pulling fossil fuels out, but don't have the first damn clue about what the consequences really are and, truth be told, couldn't give a shit.
My suspicion is that the the oil and gas folks are pumping more money than than gas into DC to keep the regulatory dogs at bay for as long as possible.