Research & Commentary: Study Shows Potential Economic Pain in Alaska if Fracking Is Banned on Federal Lands
January 20, 2021
By Tim Benson
$5.3 Billion In Lost Tax Revenue, $101 Billion In Lost Income, $226 Billion In Lost Value Added Through 2040
A new study from the School of Energy Resources at the University of Wyoming (UW) lays out how a ban on hydraulic fracturing (“frackingâ€) on federal lands would lead to “significant fiscal and economic losses†in through 2040.
The Fiscal and Economic Impacts of Federal Onshore Oil and Gas Lease Moratorium and Drilling Ban Policies, commissioned by the Wyoming Energy Authority and the New Mexico Oil and Gas Association and released in December 2020, shows how the Last Frontier would suffer under both a moratorium on new leasing ventures and an outright ban on fracking altogether, which President Joe Biden has pledged to impose.
The development of shale reserves in Alaska has turned the state into the twelfth-largest producer of natural gas in the United States, as well as the fifth-largest producer of crude oil.
https://www.heartland.org/publications-resources/publications/research--commentary-study-shows-potential-economic-pain-in-alaska-if-fracking-is-banned-on-federal-lands
