Fracking Boom Seen Raising Household Incomes by $1,200
In 2012, the energy boom supported 2.1 million jobs, added almost $75 billion in federal and state revenues, contributed $283 billion to the gross domestic product and lifted household income by more than $1,200, according to the report released today from IHS CERA. The competitive advantage for U.S. manufacturers from lower fuel prices will raise industrial production by 3.5 percent by the end of the decade, said the report from CERA, which provides business advice for energy companies.
Along with jobs at well pads and production facilities, the energy boom will increase employment throughout the economy, Larson said. By 2020, jobs that can be attributed to higher oil and gas production will reach 3.3 million, according to the report. Lower costs are also driving investment in energy-related chemical industries, where more than $31 billion will add more than 16 million tons of chemical, plastics and related manufacturing facilities by 2016.
Disposable income will rise as a result of lower energy prices, adding $2,700 per household in 2020 and more than $3,500 by 2025.
Mais au Québec on ne veut pas de la fracturation hydraulique… Au Québec on est pauvre et on aime ça.