A new report out of the U.S. Chamber's Global Energy Institute examines the economic benefits of the shale revolution and the consequences of ending it with a ban on hydraulic fracturing. The report looks at the U.S. Economy as a whole without the benefits of hydraulic fracturing before diving into state level impacts in Ohio, Pennsylvania, Colorado, Texas, New Mexico, Wisconsin, and Michigan.
The Key Findings of the Impact of a Ban on Hydraulic Fracturing Would Have on Michigan (by 2025).
- Job impacts (in 2025) -516,000
- GDP Impacts: -$159 Billion
- Household Income Impacts: -$88 Billion
- State and Local Tax Revenues Impacts: -$13.5 Billion
- Federal Tax Revenues Impacts: -$26.4 Billion
- Cost-of-Living Increase (Per Capita): $5,170