Will the EPA shut down the North Dakota miracle?
The Bakken Shale is the goose that laid the golden egg. Cheap, plentiful energy leading to lots and lots and lots of jobs. In this day and age, whenever something is going this well, we have to be on the lookout for the other government shoe to drop.
Will it, or will this miracle be allowed to continue?
http://www.instituteforenergyresearch… / http://www.heritage.org | The recent boom of the Bakken oil fields—made possible by a perfect storm of sensible state regulations, hydraulic fracturing technology, and the fact that most drilling is taking place on private lands—has produced a whirlwind of economic growth in a formerly sleepy corner of northwest North Dakota. Recently, a team from The Heritage Foundation and the Institute for Energy Research (IER) traveled out West to see it for ourselves.
More from Heritage:
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.