Democrat Strategist Says Fracking Will Lead to New Great Depression

Activists protesting in New York. Photo by CREDO.fracking.

Editor’s Note: This piece was co-authored by James Taylor, a senior fellow at The Heartland Institute.

Writing in the Lynchburg, Virginia-based News & Advance, Democrat strategist and former White House spokesman Robert Weiner, along with Hannah Coombs, strangely alleges America’s growing dependence on hydraulic fracturing to produce oil and natural gas will lead to another Great Depression—further proof the left’s environment zealots are more than a little delusional.

Hydraulic fracturing, the operation of drilling and injecting liquids far beneath Earth’s surface to extract oil and natural gas, has been one of the few economic bright spots for the U.S. economy over the past six years. Thanks to the relatively new technological advancements that have made fracking possible, billions of dollars in additional revenue have poured into the U.S. economy instead of being sent to foreign oil companies overseas.

In North Dakota, which is at the center of the American fracking revolution, the per capita income has risen from the bottom five in 2005 to one of the highest in the nation today. Even with falling gas prices, the Bureau of Labor Statistics reports unemployment in March was only 3.1 percent, second-lowest in the United States.

In September, North Dakota state officials announced there were 26,000 unfilled jobs, nearly all of which were in the fracking industry or were closely tied to it. There have even been reports fast-food restaurants have been willing to pay out hiring bonuses of $300 or more in order to entice workers.

In addition to the numerous direct economic benefits, fracking has contributed significantly to the nation’s low gas prices, benefiting virtually every consumer and business in the nation.

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[Published by Forbes.com]

Activists protesting in New York. Photo by CREDO.fracking.