REPORT: Fracking Ban Could Destroy Over 14 Million Jobs

REPORT: Fracking Ban Could Destroy Over 14 Million Jobs

September 26, 2019

Several 2020 candidates including Senators Elizabeth Warren, Bernie Sanders and Kamala Harris have all called for a total ban on fracking. Warren even promised to ban fracking “everywhere” on her “first day” as President.

Fracking has brought an economic miracle to the United States, especially to parts of New Mexico and Texas near the Permian Basin. It has put the U.S. on the path to energy independence, boosted our oil and natural gas output, and decreased carbon emissions by unlocking clean natural gas.

But experts are sounding the alarm at the policy proposals of the eco-left – if they get their way, millions of jobs could be lost.

In fact, a report from the US Chamber of Commerce found that a fracking ban could “destroy more than 14 million jobs, all while raising costs for families and considerably reducing American energy security.”

The ban could raise the cost of living by $4,000 per year, reduce GDP by $1.6 trillion, and double gas prices. That means that low income Americans would be hit hardest.

Fortunately, some politicians are speaking out against a fracking ban in a new report from the Washington Free Beacon. Texas Senator Ted Cruz says that a fracking ban “would be catastrophic to Texas and the United States as a whole—destroying jobs, wreaking economic havoc, and putting our nation’s security at risk.”

Colorado Senator Cory Gardner says that a fracking ban represents “some of the most irresponsible actions any leader can propose.”  These senators are right – we need fracking and the millions of jobs it supports.