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Reports says fracking ban would hurt PA jobs

Any federal ban on fracking for oil and natural gas would cause fuel prices to surge, leading to job losses, higher electricity and gasoline costs and an increased cost of living, especially in top gas-producing states like Pennsylvania, the U.S. Chamber of Commerce said in a report issued on Friday.

Four days before the presidential election, the Chamber’s report focused on oil and gas production in the important swing states of Pennsylvania and Ohio, and warned that a nationwide ban on fracking, as proposed by some environmental groups, would produce significant economic damage in both states.

It estimated that Pennsylvania would lose 466,000 jobs over the next five years; that the cost of living for the state’s households would rise by an average of $3,500 a year, and that state gross domestic product would drop by $45 billion by 2022 if fracking was banned by an incoming president. Read more…

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