Posted September 10, 2013
Fracking, the Poor and Adding to Americans’ Disposable Income
Wall Street Journal (editorial): Last week we reported on a study showing that the U.S. oil and natural gas revolution may be the country's best antipoverty program, and the evidence keeps coming. A new report from IHS Global Insight estimates that fracking added the equivalent of a cool $1,200 to real household disposable income on average in 2012.
Lower costs for raw materials were passed on to consumers via lower home heating and electricity bills and lower prices for other goods and services. Wages also increased from a surge in industrial activity. On present trend, IHS predicts that unconventional oil and gas will contribute more than $2,000 a year by 2015 and $3,500 by 2025.
Overall the industry lifted economic growth by $283 billion last year.
Read more (subscription publication): http://on.wsj.com/13GJtDS
More industry news:
- To Raise Revenue, Drill More, Don’t Increase Taxes: http://bit.ly/1eATB5D
- Extending Safe, Clean Natural Gas to Addison and Rutland Counties Will Cut Fuel Bills in Half for Residents, Local Employers: http://bfpne.ws/17OnRH2
- Editorial: Open the Door to Shale Natural Gas Exports: http://bit.ly/15hpdd2
- Colo. Gov. Hickenlooper: Enhanced Gas Production a Must, but Safeguards Critical: http://bit.ly/1fWdRws
- Drilling in the George Washington National Forest Should Be Beneficial: http://bit.ly/17UojBZ
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.