Wednesday, June 11, 2014

The Economic Impact of Fracking

Despite the controversy surrounding fracking, no one can deny its impact on the US economy.  The New Statesman pointed out that this new energy self-sufficiency had driven down energy costs and increased consumer spending as a result.  Vox also demonstrates that substantial numbers of jobs have been created in states where drilling for shale gas takes place, not only in the industry itself, but also in manufacturing which has seen an increase due to the availability of cheap fuel.  With the expansion of shale gas exploration here in the UK, the House of Lords commissioned a report to see if we would experience the same economic growth.