Fracking Boosts Local Economies

  Fracking Benefits Outweigh the Negative

Fracking Benefits Outweigh the Negative

The economic benefits of fracking on local economies still outweigh the more undesirable side effects, according to a new study.

Related: New Eagle Ford Refinery to Bring Jobs

Between 2000 and 2013, the University of Chicago’s Energy Policy Institute conducted a study of the communities near the nation’s most prominent shale formations, including the Eagle Ford Shale in Texas. The study concludes that the economic benefits to citizens during the boom years, overshadowed the negative affects of crime, traffic and pollution.

This study makes it clear that on net there are benefits to local economies – which we believe is useful information for leaders in the United States and abroad who are deciding whether to allow fracking in their communities.
— Co-author Chris Knittel, Professor at the MIT

Economic Benefits of Fracking to Local Communities

  • The study found that the shale boom produced benefits valued at as much as $1,900 a year for the average household in nearby communities.
  • Income climbed 7 percent
  • 10% employment rate
  • Home prices increased by 6% (20% in ND)
  • Net benefits of around $300 a year for the typical household

Unpleasant Side Effects of Shale Boom

  • Higher crime rates
  • More traffic
  • More pollution
  • General anxiety over the environmental dangers
  • 20% increase in spending for police and public safety.

Read more at epic.uchicago.edu