Fracking ban could cost Ohio, Pennsylvania billions
Wednesday, December 25, 2019
A ban on fracking would hit Ohio’s and Pennsylvania’s economies hard, according to a study released by the U.S. Chamber of Commerce.
Researchers predict an outright ban on fracking would mean Pennsylvania would lose roughly 609,000 jobs and $261 billion in gross domestic product by 2025. Simultaneously, the average consumer would see his cost of living increase by $4,654, while household income would decrease by $114 billion during the time, according to The Times.
Ohio could see the loss of 700,000 jobs and a $245 billion reduction in gross domestic product if lawmakers banned fracking, according to The Youngstown Business Journal. At the same time, Ohioans would see a per capita cost of living increase of $5,625 by 2025 and household income would fall a combined $119 billion.
Learn more: The Youngstown Business Journal > Fracking ban could cost Ohio $245B, US Chamber reports; The Times > Study: Fracking ban would hurt Pennsylvania economy
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.