Marcellus Shale: EPA to begin study of possible downsides of hydraulic fracturing

The EPA sent out a news release today saying it is looking for scientific input on gauging the environmental impacts of hydraulic fracturing, in which fluid is pumped down a natural gas well to break apart rock and free gas.
Now, I just wanted to point out that while the Environmental Protection Agency is beginning this study now, hydraulic fracturing is already reportedly going on. It has been for quite some time.
Anyone else a little worried that the federal government is starting a study to assess the environmental impacts now? Shouldn’t have this study been done before the gas boom in the Marcellus Shale formation started?