Natural gas drilling using a controversial technique known as hydraulic fracturing could create up to 37,000 jobs and generate from $31 million to $185 million a year in added state income taxes for New York at the peak level of well development, according to analyses in a report commissioned by the New York State Department of Environmental Conservation that was released on Wednesday.
But communities in south-central and southwestern New York, on or near the Marcellus Shale, where most new drilling is expected, would pay a price for the local economic bonanza.
Included among the negative impacts the report outlines are large-scale industrial activity, heavy truck traffic, more spending on police and fire protection and higher housing prices due to the expected influx of workers.
Hmm... let's see:
The upside is it creates 37,000 jobs in NY and generates nearly $200MILLION in new TAX revenues. And the downside: ER, UM... it increases the value of EVERYONE'S real estate!
IOW: there's not much of a downside WHEN YOU UNLEASH AMERICANS TO EXPLOIT OUR NATIONAL RESOURCES.
Did Obama propose a similar action in the USA with regard to our oil and coal and gas?
Obama failed to even mention the word ENERGY in his speech. Not once. He mentioned "oil" once - but only to say he wanted to raise taxes on oil companies. He never mentioned natural gas or coal.
When Obama was elected gasoline was $1.79/gallon. For most of his term it's been TWICE that.
Expanding the exploitation of America's VAST energy resources would - as the NY State study PROVES - create jobs, shore up real estate and HOME prices, and lower costs for families and businesses and thereby reduce inflation.
But Obama would rather stick to his same old tired failing leftist policies than admit he's been a failure and that his leftist policies are a failure, and change direction.
As a result, the US economy will go into a deeper recession and he will lose. And we have to wait until 2013 - when we swear in a Republican President and a GOP Senate Majority Leader - for things to improve.