The gas industry has waged an impressive propaganda campaign to sell lies about the economic benefits of fracking and inflated job creation expectations. When we break through the gas industry’s misinformation campaign, the true economic costs of fracking are revealed.
The truth is that shale gas economics are more in line with a dangerous ponzi scheme than an economic opportunity. The economics do not add up. At best, fracking creates a short-term boom, then leaves communities with a long term bust (see here as a starting point for more information).
The gas industry’s jobs numbers do not add up. For example, the independent Keystone Research Center looked at fracking job creation in Pennsylvania between 2007 and 2010. During that period, the gas industry claimed more than 48,000 jobs. The Keystone Research Center found that fracking contributed fewer than 6,000 jobs and suggested that jobs in other industries might have been lost as a result.
New York’s upstate economy relies on agriculture, tourism, and small businesses. Those long-term industries are threatened by fracking, which would forever change the nature of our communities and the vitality of our environment. Furthermore, fracking threatens the foundation of our economies and our financial security by undermining the values of our homes and our real estate industry. Also consider this from Colorado.
In addition to heavy community impacts that include strains on municipal services such as emergency workers, police, and hospitals, fracking threatens to severely damage our local infrastructure. The NY Department of Environmental Conservation estimates that each fracking well requires almost 7,000 industrial truck trips. The NYS Department of Transportation estimates that the increase in heavy traffic could result in road damage of $211 million to $378 million each year.
While significant, these costs would likely pale in comparison to the health costs of fracking.
Please check back soon as we update this page with more information and resources. One good compilation of documentation to learn more is here.