Evil, Evil Fracking

Thursday 12 September 2013 - Filed under Uncategorized

I just knew that fracking would be evil!

In 2012, the energy boom supported 2.1 million jobs, added almost $75 billion in federal and state revenues, contributed $283 billion to the gross domestic product and lifted household income by more than $1,200, according to the report released today from IHS CERA. The competitive advantage for U.S. manufacturers from lower fuel prices will raise industrial production by 3.5 percent by the end of the decade, said the report from CERA, which provides business advice for energy companies.

[. . .]

Lower costs are also driving investment in energy-related chemical industries, where more than $31 billion will add more than 16 million tons of chemical, plastics and related manufacturing facilities by 2016.

“The unconventional oil and gas revolution is not only an energy story, it is also a very big economic story,” Daniel Yergin, IHS vice chairman and author of The Quest: Energy, Security and the Remaking of the Modern World, said in a statement. “The growth of long-term, low-cost energy supplies is benefiting households and helping to revitalize U.S. manufacturing, creating a competitive advantage for U.S. industry and for the United States itself.”

Cheap, plentiful, clean energy which makes manufacturing and power for home use significantly cheaper, enriching Americans by the tune of $1200 per year. How terrible.

2013-09-12  »  madlibertarianguy