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Harvard Economist: Hydraulic Fracturing "Game Changer" for U.S. Economy

By Ilya Batikov

NPR writes about a Harvard economist whose recent report concludes that hydraulic fracturing is a "game changer" for the U.S. economy:

There's a serious problem in the American economy: Big corporations are doing well, but real household income for average Americans has been falling over the past decade — down 9 percent, according to census data.

"That's not good for America," says Harvard economist Michael Porter. "That's not good for America's standard of living. That's not good for our ultimate vitality as a nation."

That's why Porter's excited about the deep reserves of natural gas and oil that have been made accessible by hydraulic fracturing technology, or fracking — a boon he examines in detail in a new report.

"It is a game changer," Porter says. "We have estimated that already, this is generating a substantial part of our GDP in America. It's at least as big as the state of Ohio. We've added a whole new major state, top-10 state, to our economy."

Read the entire article here.

Tags: "Oil and Gas" Utica, Energy

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