Nationwide Fracking Ban Introduced In House—How Would It Impact The U.S. Economy?
On February 12, U.S. Reps. Alexandria Ocasio-Cortez (D-N.Y.) and Darren Soto (D-Fla.) introduced H.R. 5857, legislation that would impose a nationwide ban on hydraulic fracturing, or fracking.
The measure is companion legislation to, S. 3247, which was introduced in the U.S. Senate last month by Sens. Bernie Sanders (I-Vt.) and Jeff Merkley (D-Ore.). Specifically, both bills would ban all new federal permits for fracking-related infrastructure, would put a federal ban on fracking within 2,500 feet of homes and schools by 2021, and ban all fracking nationwide beginning in 2025.
As Connecting the Dots reported last December, the U.S. Chamber of Commerce estimates a nationwide fracking ban would result in:
- More than 19 million jobs being lost by 2025.
- $3.7 trillion in American household income being lost from 2021-2025.
- $7.1 trillion to the U.S. economy being lost and $1.9 trillion in tax revenue being lost by the federal, state, and local governments through 2025.
Meanwhile, other Democratic lawmakers have urged U.S. House leadership to reject the ban. In a letter sent on February 14 to House Speaker Nancy Pelosi (D-Calif.), Rep. Conor Lamb (D-Penn.) argued a ban “would eliminate thousands of jobs in my state and likely millions across the country” and would “remove from our energy grid the source of power that has been most responsible for reducing carbon emissions in our country.”