With all of the controversies surrounding fracking, not many people stop to think about the economic benefits.
Fracking is an easy scapegoat for our environmental problems, but the innovative water storage tanks from Well Water Solutions can greatly minimize those problems. Advancements in the industry can make hydraulic fracturing safer and more environmentally friendly, which gives us time to focus on the positive impacts of fracking on the economy. Recently, researchers at Dartmouth University studied the economic effects of fracking in over 3,000 counties for an 8 year period, and what they found is truly exciting for the fracking industry.
Dartmouth’s study reveals many of the economic benefits of fracking.
One of the biggest benefits of the fracking industry revolves around employment. Over the 8 year study, national employment went up by 10%, but for the fracking industry, employment jumped by a whole 60%! Researchers also estimated that the fracking industry added approximately 725,000 jobs in the United States. These added jobs have reduced the national unemployment rate by a half a percent. On a state level, the economic benefits of fracking have been astronomical. Most of these economic benefits occur within 100 miles of the drilling site.
Fracking is a controversial topic, but there is more to the story than environmental issues and water usage. To truly understand the impacts of fracking, we have to look at the whole picture, including how it has benefits our economy. Dartmouth’s study has shown that, even in the midst of The Great Recession, the fracking industry has been key for creating jobs, reducing employment and moving our economy forward.
