A decision by the New York Court of Appeals on two fracking lawsuits is being closely watched by energy companies and more than a hundred towns and cities that would be impacted by the ruling.

Reporter Joseph de Avila writes:

The fate of two fracking lawsuits before New York's highest court hinges on legislation passed in 1981, an era of advances in gas-exploration technology that has parallels to today.

The New York Court of Appeals is weighing whether towns can use zoning regulations to ban high-volume, hydraulic fracturing, widely known as fracking. Its decision will have ramifications for energy companies and the more than 170 towns and cities that have passed moratoriums or bans on fracking.

Gas drillers have been under a de facto moratorium on fracking in New York state since 2008, when the state Department of Environmental Conservation began reviewing the practice. The state Department of Health has been conducting its own review since 2012. No timetable exists for completion of either review.

In May, editor Dennis Berman described the size and potential impact of America's fracking boom, calling it "one of the most improbable and important American business stories of the past decade." Read more here and vote in our poll:

Earlier Coverage: