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Energy boom stimulates American economy in a big way, according to report

Saturday, October 8, 2016 by

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A 64-page report from the U.S. Chamber of Commerce titled, “What If America’s Energy Renaissance Never Actually Happened,” found that the economy would be short 4.3 million jobs and shrunk by $548 billion, according to Kallanish Energy.

The report used data from 2009 to 2015 to capture what the American economy would have looked like without shale development.

Residential electric and natural gas bills would be 31 and 28 percent higher, respectively. Americans would see fuel prices 43 percent higher at the pump and industrial natural gas consumers would be paying 94 percent more.

The manufacturing industries in Pennsylvania, Ohio, texas and Wisconsin would have been crippled even more as the four states combined would have 950,000 fewer jobs.

Learn more: Kallanish Energy > U.S. energy boom produced 4.3 million jobs, $548 billion to economy, report says

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