The Crippling Costs of a Fracking Ban
Posted February 21, 2020
API’s new video, “The Costs of a Fracking Ban,” pulls no punches: Ending the technology most responsible for the U.S. energy revolution – as proposed by some politicians – would harm millions of Americans and weaken the nation’s security. Take a look:
With 95% of new natural gas and oil wells developed with hydraulic fracturing, a ban on fracking most likely would end U.S. global leadership in natural gas and oil production and make America weaker, less secure. It would hamstring the economy and could cost millions of jobs. Average household costs could increase, and entire communities could be waylaid in the process.
The video underscores the opinion of Rapidan Energy Group’s Robert McNally, that banning hydraulic fracturing would “vaporize” the U.S. energy revolution – which has fueled job creation and economic growth, reduced U.S. dependence on foreign oil and helped lower U.S. carbon dioxide emissions to their lowest levels in a generation. Federal Reserve Chairman Jerome Powell to Congress late last year:
“To shut down the shale industry, yeah, that would probably not be a good thing for the economy. … The energy independence of the United States is something that people have been talking about for 50 years and I never thought it would happen, and here it is. … It’s a great thing.”
It's hard to imagine a context where reversing the progress of the U.S. energy revolution – throwing away its hard-earned gains for America – is considered smart policy. But that’s how some candidates talked during the recent presidential debate in Las Vegas.
Too much progress is at stake for the U.S. to put the country’s abundant natural gas and oil reserves on the shelf. Jobs, economic strength, household budgets, energy security and significant emissions reductions – aren’t rhetorical playthings for the campaign trail. They’re all closely tied to safe, reliable and affordable energy, which natural gas and oil provide and will continue to provide well into the future.
The costs of such a setback to U.S. energy are too much for Americans to pay.
About The Author
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Previously, Mark was a reporter, copy editor and sports editor at an assortment of newspapers. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela have two grown children and six grandchildren.