Excerpt:
A new report from the Congressional Budget Office details exactly how shale drilling technologies have benefited consumers as well as the economy:
- Without shale gas, natural gas costs in 2040 would be 70 percent higher than they are projected to be.
- In 2020, GDP will be 0.7 percent higher than it would have been without shale. By 2040, GDP will be 0.9 percent higher than it would have been without shale.
- The federal government's tax revenues will be $35 billion higher in 2020 due to shale energy than they otherwise would have been.
Many studies are quite biased. While CBO reports aren't always accurate - this is probably the least biased source to ever conduct a study on the economic impact of fracking.
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