Economic Impact

The New York-based Manhattan Institute, a non-profit think tank with a mission “to develop and disseminate new ideas that foster greater economic choice and individual responsibility,” released a new report yesterday titled, “The Economic Effects of Hydrofracturing on Local Economies: A Comparison of New York and Pennsylvania” (full copy embedded below). The report finds that if New York lifted its moratorium on fracking, it would mean billions of dollars in income for upstate New Yorkers and for the state as a whole.

MI researchers closely examined counties in Pennsylvania and found a) those counties with shale wells did better economically, b) the more wells, the better they did, c) counties with shale wells experienced double-digit rises in per capita income, and d) perhaps most surprisingly, PA counties with no shale wells or fracking saw per capita incomes rise an average 8%! Across the board, fracking has benefited PA enormously and this report proves it. The authors also say NY is screwing itself (our words) if it continues to ban fracking…
Read More “Manhattan Institute Study: Lifting NY Frack Ban Would Mean Billions”