RESEARCH & COMMENTARY: FRACKING HAS TURNED UNITED STATES INTO WORLD’S LEADING OIL PRODUCER
A 2015 Harvard Business School/Boston Consulting Group study estimates fracking supported 2.7 million jobs in 2014, with the potential to grow to 3.8 million jobs by 2030. Similarly, PricewaterhouseCoopers (PwC) prepared a report for the American Petroleum Institute that estimates the oil and natural gas industries supported 10.3 million jobs in 2015, an increase of about 500,00 compared to 2011.
The RAND Corporation projects the industries will support an additional 1.9 million jobs by 2035. By the same year, a 2012 IHS Markit study estimates fracking will have created 3.5 million jobs.
A 2016 Chamber of Commerce study projects that if the fracking revolution of the previous decade had not occurred, 4.3 million jobs would not have been created, the U.S. economy would be $500 billion smaller and residential natural gas prices would be 28 percent higher.