An American Petroleum Institute (API) study shows that a ban on fracking and new oil leases would reduce GDP by $7.1 trillion by 2030, cost the economy 7.5 million jobs by 2022, and cause an average household income decline of $5,040.
If the U.S. were to ban the process of hydraulic fracturing,
1. Economic and Industrial Output Would Plummet
2. Household Energy Costs Would Spike
3. We'd Return to Dependence on Foreign Energy
4. American Farmers Would Suffer