$100 Billion shale gas windfallJune 27, 2012
A new study from the Yale Graduates Energy Study Group used common cost benefit analysis to find that, in 2010 alone, natural gas fracking contributed a $100 billion surplus to the broader US economy. Note – this is not the profits claimed by energy companies, but the excess benefit that fracking added to the economy. Additionally, the study authors find that every million barrels of oil that are replaced with the BTU equivalent of natgas is another $25 billion benefit to the economy.
And this is just the beginning. As we like to say around here: Welcome to the Shale Age.
hat tip to Marginal Revolution for the pointer to this paper.