Fracking boosted household income in 2012

The Los Angeles Times reports:

A surge in the unconventional production of oil and natural gas boosted U.S. household disposable income by an average of $1,200, according to a report released Wednesday by IHS, a research firm.

The report said that as the U.S. produces more energy, it will become less reliant on oil and other energy imports. The manufacturing process and price of goods and services have also become cheaper. Those savings are being passed on to consumers in the form of lower household energy bills, IHS said.

Electricity has become less expensive as some power plants turned to natural gas over coal to power areas they service.

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One response to “Fracking boosted household income in 2012

  1. And that kind of thing, folks, is the real approach to poverty. When you lower the costs of goods and services, you improve the standard of living for those at the bottom much more than for the middle class (and we get improvement also) or the rich (who get almost no benefit in standard of living).

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