June 16, 2014
With little and at times fabricated evidence, Big Green activists and their supporters in government have worked hard to undermine the energy revolution underway in the U.S. Exploiting fear and ignorance, they seek to convince Americans that the current natural gas boom propping up the country's sagging economy is despoiling the earth, polluting water supplies and even causing earthquakes. So periodically, it's a good idea to review the substantial concrete benefits from hydraulic fracturing -- aka “fracking” -- not just the direct benefit to the employers and employees in the industry, but to everyone.
The American Petroleum Institute -- the oil industry's largest trade group -- has released new results from its America's New Energy Future study, conducted by IHS Economics Consulting. The firm measured the benefits that the most technologically advance segment of the oil and gas industry -- drilling and production enabled by fracking -- generated for government at all levels in recent years.
The bottom line is that fracking is reducing electricity and gas prices, which helps governments do more with less money. For example, America's...