Thanks to fracking, energy prices have dropped by leaps and bounds,
saving consumers who use natural gas and oil for heat and to fuel their
homes, businesses, cars, and boats billions of dollars, spurring massive
economic growth.
A 2015 Harvard Business School/Boston Consulting Group study
estimates fracking supported 2.7 million jobs in 2014, with the
potential to grow to 3.8 million jobs by 2030. Similarly,
PricewaterhouseCoopers (PwC) prepared a report
for the American Petroleum Institute that estimates the oil and natural
gas industries supported 10.3 million jobs in 2015, an increase of
about 500,00 compared to 2011. The RAND Corporation projects the
industries will support an additional 1.9 million jobs by 2035. By the same year, a 2012 IHS Markit study estimates fracking will have created 3.5 million jobs.
A 2016 Chamber of Commerce study
projects that if the fracking revolution of the previous decade had not
occurred, 4.3 million jobs would not have been created, the U.S.
economy would be $500 billion smaller and residential natural gas prices
would be 28 percent higher.
Source of the above text: https://www.heartland.org/publications-resources/publications/research--commentary-fracking-has-turned-united-states-into-worlds-leading-oil-producer
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