Hydraulic Fracturing in California Helped Save the U.S. Economy

Hydraulic Fracturing in California Helped Save the U.S. Economy

American Thinker | March 16, 2015 | by Chriss Street

A recent study done by IHS Research has credited hydraulic fracturing as one of the “shovel ready jobs” that helped lift America out of the Great Recession, creating an increase in employment of 1.7 million. The 70 percent decrease in in natural gas prices from $7.59 in 2006 to $283 mcf today, allowed manufacturing to expand faster than the economy for the first time since the 1980s.

Those who have opposed fracking complain that with natural gas now 80 percent cheaper than “sustainable energy” like wind and solar, America is hastening global warming. Over the past nine months the price of oil has dropped up to 60 percent while causing the usually frenzied pace of U.S. drilling to slow by 40 percent. There is truth to the fact that the cheaper costs have inspired electrical utilities to switch from coal to natural gas, but that conversion resulted in C02 emissions from electrical generation diving by 45 percent.

The crux of the argument is that hydraulic fracturing in California for oil and natural gas has saved the U.S. economy and is in the process of saving the environment.

Read more here.

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