A fracking ban would kill thousands of jobs in the battleground states of Ohio and Pennsylvania and millions nationwide, while doubling energy costs and increasing carbon pollution, the U.S. Chamber of Commerce said Friday.
The Chamber’s Institute for 21st Century Energy issued the report, “What If Hydraulic Fracturing Was Banned?”, showing a loss of 14.5 million jobs by 2022, while driving up the cost of living by $4,000.
The bump in household costs would come from increases in the price of gasoline, natural gas and electricity, which are projected to nearly double if a ban is put into place.
“It’s easy for politicians and activists to call for an end to hydraulic fracturing — but now we know what the consequences could be,” said the institute’s president and CEO Karen Harbert. “Without fracking, the U.S. would surrender our status as a global energy superpower.”
Imposing a ban on hydraulic fracturing, or fracking, is a proposal that former Democratic candidate Sen. Bernie Sanders pushed in his presidential campaign and tried to steer nominee Hillary Clinton toward embracing. Clinton has said she supports placing controls on fracking, but has fallen short on supporting a national ban on the drilling practice that pumps water and sand into rock deep underground to force out natural gas and crude oil.
But it is not just an issue on the presidential level. A number of activist groups have multimillion dollar campaigns to try to gain a foothold in the states to ban fracking at the local and state levels.
Two ballot measures are on the ballot in Ohio to ban fracking, as well as one in Monterey, Calif.
One initiative being considered is in the northeastern part of the Buckeye State, and another in the Toledo area in the northwestern part near Michigan. The eastern initiative in the Youngstown area has been offered five times in the past, and it has failed every time, institute officials said on a call with reporters. They do not expect it to succeed this time around, either.
The report projects 400,000 jobs lost in Ohio by 2022 if a ban is put into place.
“While on its face, ‘keep it in the ground’ policies are intended to punish the energy industry, in reality they punish the entire economy,” Harbert said. “Bringing back energy scarcity means higher energy prices for everyone. Beyond that, banning fracking would make America much more reliant on foreign sources of energy, weakening our national security.”
In addition, banning fracking would raise the cost of natural gas, which in turn would raise electricity prices and hurt the gains made on reducing greenhouse gas emissions, which have fallen to a 25-year low due to the switch from coal to natural gas to produce the nation’s electric power. Natural gas currently produces the majority of the electricity in the country.
