The Briefing Room
General Category => Science, Technology and Knowledge => Topic started by: rangerrebew on June 16, 2021, 04:49:30 pm
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Ending Hydraulic Fracturing Will Sabotage America as Energy Prices Soar
by Dr. Jay Lehr and Tom Harris | Jun 15, 2021 | Climate Change, Politics
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The amazing technology of hydraulic fracturing, also known as “fracking,” has been a huge benefit to the United States and, indeed, the whole world. It has boosted employment, kept energy prices relatively low, and largely as a result of the hydraulic fracturing revolution, America became the world’s largest oil producer. Better yet, in 2019 and 2020, for the first time since 1952, hydraulic fracturing helped the U.S became a net total energy exporter, thereby making a major contribution to our national security.
Isaac Orr, Policy Fellow for Energy and Environment at the Center of the American Experiment, explained in March 2020:
“The 3.9 million jobs currently supported by fracking take the form of direct jobs in the extraction industry, indirect jobs in the supply chain, and induced jobs [in] local hardware stores, restaurants, car dealerships, and bakeries.”
Dr. David Wojick, an independent analyst, working at the intersection of science, technology, and policy, outlined the impact of hydraulic fracturing on energy prices:
https://americaoutloud.com/ending-hydraulic-fracturing-will-sabotage-america-as-energy-prices-soar/?utm_source=twitter&utm_medium=website&utm_campaign=SocialSnap
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Well, there is another sector: Government jobs supported by extraction tax and other revenues directly related to hydraulic fracturing and related to the production of oil.
Yes, Virginia, even the very schools that busily teach children how evil oil companies and "fossil fuels" are, are funded, in (sometimes large) part, by tax revenues from the industry.
Alaska: A total of 81% of State revenue comes from the taxes levied on the oil industry.
North Dakota: 53% of State revenue comes from severance taxes.
Wyoming: 22%
New Mexico: 20%
It isn't just roughnecks and truck stop waitresses, folks, it runs right up the food chain.
source (https://taxfoundation.org/historic-oil-price-burns-hole-in-state-budgets/)