Hydraulic fracturing or “fracking” is a major driver behind increased US oil and natural gas production and an advanced technology for safely producing affordable and reliable energy—in addition to making the US less dependent on foreign energy. Learn more about fracking HERE.
Why is fracking important?
Some legislators at the state and federal levels are considering a ban on fracking, an advanced technology for safely producing affordable and reliable energy. What could a ban on fracking mean? Here’s what we know:
- Millions of Jobs Lost – Communities across the country risk being severely impacted in an already strained job market. A ban on fracking could eliminate 19 million jobs between 2021 and 2025.
- Increased Cost of Living – The cost of living could increase by $5,661 for the average American through 2025 if a national ban were implemented in 2021.
- Decreased Household Income – Within 5 years, there may be a $3.7 trillion decrease in household incomes across the country.
- Low Income Families at Risk – Natural gas can help keep energy affordable, making it possible for low income families to be able to pay their energy bills. According to a study from the National Bureau of Economic Research, inexpensive heating reduces colder weather mortality.
- Increased Dependence on Foreign Energy – Fracking is a major reason for America transitioning from a net importer to a net exporter of energy. With a ban on fracking, there could be increased reliance on foreign supporters, making the country less energy secure.