Get the Federal Government Out of the Natural Gas Business
In North Dakota, people have jobs. That state led the nation in job creation last year, and its unemployment rate is only 3.2 percent (compared to the national rate of 7.9 percent). Why?
One word: energy.
As Nicolas Loris, Heritage’s Herbert and Joyce Morgan Fellow, writes in a forthcoming paper:
Technological advancements in directional drilling and hydraulic fracturing have led to an abundance of natural gas production in the United States that is fundamentally changing the energy landscape. The result has been more jobs, economic growth, and consistently low domestic natural gas prices in what has known to be a historically volatile market.
Despite media misinformation and Hollywood portrayals like Promised Land, the fact remains that hydraulic fracturing, also called fracking, is being done responsibly and is revitalizing local economies like Williston, North Dakota.