A new report by The Heritage Foundation shows the economic benefits of hydraulic fracturing (aka fracking) for natural gas.
New York state has had a ban on hydraulic fracturing and horizontal drilling practices since 2010. The ban was strengthened in 2014 by then-Gov. Andrew Cuomo, but the report found that “approximately $11,000 per capita—$27,000 per family—could have been created in New York in the absence of the ban.”
“Americans benefit from oil and natural gas development, and states should welcome it,” Diana Furchtgott-Roth, one of the co-authors of the report and the director of the Center for Energy, Climate, and Environment at The Heritage Foundation, told The Daily Signal.
“Households above the Marcellus Shale in New York state are $27,000 poorer per year because hydrofracturing is banned, but they pay about 25% more in electricity costs than…
