Why Fracking Won't Bring Back the Factories (Yet)
AbstractSince last fall, President Obama has repeatedly declared that manufacturing jobs are coming back to America. In this article, however, we suggest that the return of U.S. manufacturing is still more promise than reality.In particular, while the recent increase in natural gas exploration and production has been optimistically linked to a U.S. manufacturing revival, the boom has not led to significant growth in employment. Paradoxically, for the U.S. to reap the greatest benefit possible from the extraction of its natural gas reserves, both more and fewer regulations are needed. On the one hand, current restrictions on natural gas exports must to be lifted to provide the right incentives for domestic producers, who receive much lower prices at home than they would abroad. On the other hand, more comprehensive environmental regulations would reassure critics that natural gas does indeed providea clean and sustainable promise for the U.S. economy.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 47872.
Date of creation: 2013
Date of revision:
environment; fracking; natural gas; climate change; methane;
Find related papers by JEL classification:
- Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
- Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-05 (All new papers)
- NEP-ENE-2013-07-05 (Energy Economics)
- NEP-ENV-2013-07-05 (Environmental Economics)
- NEP-RES-2013-07-05 (Resource Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Justin R. Pierce & Peter K. Schott, 2012. "The Surprisingly Swift Decline of U.S. Manufacturing Employment," NBER Working Papers 18655, National Bureau of Economic Research, Inc.
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