A new Harvard Business School report lays the economic and equity case for fracking—through direct and indirect job creation, America's middle class is reaping substantial wage gains and reduced energy costs. Renewables are also discussed.
NPR correspondent Chris Arnold doesn't begin the interview by discussing fracking with the report's author, Harvard economist Michael Porter, but with the state of the American economy today. [Listen here or download].
There's a serious problem in the American economy: Big corporations are doing well, but real household income for average Americans has been falling over the past decade — down 9 percent, according to census data ["Income and Poverty in the United States: 2013 Current Population Reports" (PDF)].
Porter believes that fracking is part of the solution to increasing household income, and to ignore it would be a grave error.
"It is a game changer," Porter says. "We have estimated that already, this is generating a substantial part of our GDP in America..."
Looking not just at drilling jobs but at all related jobs — truck drivers, truck manufacturers, petrochemical engineers and more — Porter says the rise of fracking has added 2.7 million jobs to the economy, most of them with good wages.
From the report:
America’s unconventional gas and oil resources are a once-in-a-generation opportunity to enhance the nation’s economic competitiveness while minimizing environmental impacts, and making major progress toward reduced greenhouse-gas emissions. But there is a real risk that American citizens, companies, and communities will fail to capitalize on this opportunity because of misunderstanding and distrust.
Fracking also benefits all consumers by reducing energy prices, claims Porter. "The average household is saving about $800 a year," he says, much of it in passed-on savings from lower-priced consumer products, writes Arnold. "And his research suggests that figure may keep rising in the next 15 years."
Porter concedes energy companies are partially responsible for the American people's distrust of fracking "by failing to partner with environmentalists at the start to reduce fracking's impact," adds Arnold.
Wind energy developments are also explored in the article. Porter adds a caveat: "Many people believe that somehow, if we take advantage of these oil and gas resources, that will stop renewables in their tracks," he says. "That turns out to be just wrong."
FULL STORY: America's Next Economic Boom Could Be Lying Underground

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?

Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.

LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.

Paris Voters Approve More Car-Free Streets
Paris Mayor Anne Hidalgo says the city will develop a plan to close 500 streets to car traffic and add new bike and pedestrian infrastructure after a referendum on the proposal passed with 66 percent of the vote.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service