Policy: Environment & Energy

Fracking boom supported 2.1 million jobs in 2012

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Beltway Confidential,Charlie Spiering,Jobs,Energy and Environment,Fracking,Unemployment

Bloomberg reports that according to a new study, the domestic energy boom sparked by fracking boosted the economy considerably in 2012.

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.

The report notes that thanks to lower energy prices, disposable income will rise to $2,700 per household in 2020 and more than $3,500 by 2025.

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