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Surging oil and natural gas production brought on by hydraulic fracturing is lifting the U.S. economy by lowering energy costs for consumers and manufacturers, according an industry-funded report. In 2012, the energy boom supported 2.1 million jobs, added almost $75 billion in federal and state revenues, contributed $283 billion to the gross domestic product and lifted household income by more than $1,200, according to the report released today from IHS CERA.
North Dakota’s Bakken shale oil play is roughly the size of West Virginia. Perpetual projections of its total recoverable reserves have proven to be grossly underestimated, as new drilling uncovers more and more crude. With current estimates topped at 7.4 billion barrels, North Dakota sits behind Texas as the #2 producing oil-giant in the States. But unlike other formidably energy-rich states, little discussion is had about the regulatory atmosphere of the fracking industry in North Dakota.
July 30, 2013 12:53 pm • By Jenny Michael
”I can tell you the worst thing. It’s a MAN camps versus a WOMEN camp. That’s probably the worst thing about it. Its kinda sad. A lot of people come and go and then the company moves them. There’s a lot of money in my back account. I’m making more money now than I would have if I had gone to college.” 9/1/11