Gee - how many times do we have to see reports like this to understand it doesn't matter how many jobs or how much Fracking contributes to the economy. Mr Objma's stand against fossil energy has everything to do with bring financial prosperity to this country, he and his party hate prosperity. Mr Objma's his stand against fracking is about limiting options that are available for citizens to gain prosperity.
A person without a job has limited options. A person with a good job has options for success and propserity. A prosperous citizen will more then likely not vote for progressive socialist democrats.
Fracking Is Good for the Economy
Source: James Feyrer, Erin T. Mansur and Bruce Sacerdote, "Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution," National Bureau of Economic Research, October 2015.
November 2, 2015
The combining of horizontal drilling and hydrofracturing unleashed a boom in oil and natural gas production in the United States. This technological shift interacts with local geology to create an exogenous shock to county income and employment.
Measuring the effects of these shocks within the county where production occurs and tracking their geographic propagation: Every million dollars of oil and gas extracted produces $66,000 in wage income, $61,000 in royalty payments and 0.78 jobs within the county.
Outside the immediate county but within the region, the economic impacts are over three times larger. Within 100 miles of the new production, $1 million generates $243,000 in wages, $117,000 in royalties and 2.49 jobs. Thus, over a third of the fracking revenue stays within the regional economy.
Our results suggest new oil and gas extraction led to an increase in aggregate U.S. employment of 725,000 and a 0.5 percent decrease in the unemployment rate during the Great Recession.
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