Article

2016-04-02 Economy

An Ungrateful Nation Turns Its Back On Fracking

[INVESTORS] Energy: The benefits of “fracking” have never been greater. Prices are lower and the country is emitting less CO2. Yet most people now oppose fracking. What gives?

A Gallup poll taken in early March shows that 51% of Americans say they oppose fracking “as a means of increasing production of natural gas and oil in the U.S.” That’s up from 40% just one year ago.

Even more surprising, the drop in overall support is largely the result of a shift among Republicans. While 66% supported fracking last year, a bare majority (55%) do now. Support was steady among independents (35% vs. 34%) and Democrats (26% vs 25%).

Gallup speculates that lower gas prices and a decline in the share of Americans worried about energy shortages are behind the decline.

This makes absolutely no sense.

The drop in gasoline prices is a direct result of fracking, which has turned the U.S. into an oil producing giant. In fact, the drop in gasoline prices compared with 2014 will save the average household $1,000 this year, on top of the $660 saved last year.

Natural gas prices are also at historic lows thanks to fracking, which is lowering heating bills and the cost of goods and services throughout the economy.

A report from the consulting firm IHS finds that the average household had an additional $2,000 in disposable income last year because of lower energy prices, which it says will climb to $2,700 in 2020 and $3,500 in 2025.

Ban fracking, as Democratic presidential contenders Bernie Sanders and Hillary Clinton want to do, and these savings would quickly evaporate.

So all we need do is vote Republican in November?

For those who think that global warming is mankind’s most serious threat, fracking has been a huge windfall, resulting in a sharp drop in CO2 emissions, as power plants switch from coal to gas. Even the far-left liberal publication Mother Jones has admitted that banning fracking would reverse these gains.

Posted by Fred 2016-04-02 00:00|| || Front Page|| [6 views ] Top

#1 People have been convinced fracking causes immense environmental damage, and earthquakes. Fear mongering is big business for some. (There is a small element of truth in the claims, but of course when the environment is at stake there is no cost-benefit analysis permitted!)

Posted by Glenmore 2016-04-02 14:45|| 2016-04-02 14:45|| Front Page Top

#2 Who benefits from a ban on fracking? Energy prices would rise, with benefit to foreign producers. Rising prices would bring renewed calls for controls on profiteering oil companies, and nationalization - giving government control over one more of civilizations essential elements. And the fear mongers themselves get more power.

Posted by Glenmore 2016-04-02 14:48|| 2016-04-02 14:48|| Front Page Top

#3 There is no limits on the lunacies the new age hippie religion is spawning...

Posted by Deadeye McCoy4554 2016-04-02 22:35|| 2016-04-02 22:35|| Front Page Top

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