A Fracking Ban Would Cost More Than Three Million Texan Jobs, Study Finds

January 28, 2020

A new report published by the U.S. Chamber of Commerce’s Global Energy Institute found that a ban on hydraulic fracturing “would have a catastrophic effect on our economy.”

If a ban on fracking were enacted in Texas, the analysis found it would cause 3.2 million jobs to be lost in the state over a four-year period 2021-2025, while reducing Texas’ Gross Domestic Product by $1.5 trillion over the same period.

The average Texan will see their cost of living increase by $7,280 by 2025, while household income would decrease by $794 billion. With a fracking ban in place, there would be $106.6 billion less in state and local tax revenue.

World Oil reports:

Jeff Moseley, President of the Texas Association of Business said, “Texans are rightfully proud of the ‘father of fracking’ George Mitchell, and of the benefits that hydraulic fracturing has brought the globe. As the nation’s leading oil and gas producer, a ban of fracking would hit Texas especially hard—costing us billions of dollars and millions of jobs and jeopardizing promising export projects now underway. This new study should serve as a wake-up call to politicians that are calling for fracking bans to abandon this misguided idea.”

On a national level, the analysis found that a ban on fracking would eliminate 19 million jobs between 2021-2025. While energy prices would skyrocket, with natural gas prices rising by 324 percent, causing household energy bills to quadruple. By 2025, the price of gasoline would double and government revenues would plummet by almost $1.9 trillion. 

Jeff Moseley said it best: this new study should serve as a wake-up call to the politicians on the eco-left calling for an outright ban on fracking.

American energy workers absolutely deserve better.