A new report in the Manhattan Institute publication,City Journal, says fracking “brings breathtaking economic and environmental benefits” to the places that have embraced the “shale revolution.”
James Panero catalogs powerful fracking facts, including:
- According to the federal government’s Secretary of Energy Advisory Board, by 2035, 80% of America’s domestic gas supply will come from shale and other unconventional sources.
- A 2012 study by forecasting firm HIS Global Insight found that shale oil and gas generated $87 billion in domestic capital investments; by the end of the decade, that figure is expected to jump to $172.5 billion and could reach $5.1 trillion by 2035.
- By 2025, PricewaterhouseCoopers projects lower costs of shale gas will produce 1 million domestic manufacturing jobs and tack on .5% to America’s GDP.