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The Public Finance Challenges of Fracking for Local Governments in the United States

Author

Listed:
  • Austin Zwick

    (University of Toronto)

Abstract

Fracking has revolutionized international oil and gas markets practically overnight, but its impact on local public finance and governance have largely been overlooked. While operating under federal and state constraints, the key ongoing policy question is whether and to what extent local governments can – and should – have the power to manage the industry’s effects on their communities. This IMFG Paper explores the fiscal health risks associated with the industry, its local revenue generation implications, and what local governments can do to address the spatial and temporal mismatches between the two. As the industry expands internationally, including to Canada, lessons from the United States can inform future regulatory response in other places.

Suggested Citation

  • Austin Zwick, 2018. "The Public Finance Challenges of Fracking for Local Governments in the United States," IMFG Papers 38, University of Toronto, Institute on Municipal Finance and Governance.
    • Handle: RePEc:mfg:wpaper:38
    as

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    File URL: https://tspace.library.utoronto.ca/bitstream/1807/87370/1/imfgpaper_no38_financechallengesoffracking_austinzwick_april_17_2018.pdf
    File Function: First version, 2018
    Download Restriction: no
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    Citations

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    Cited by:

    1. Gwen Arnold & Meghan Klasic & Madline Schomburg & Abigail York & Melissa Baum & Maia Cherin & Sydney Cliff & Parisa Kavousi & Alexandria Tillett Miller & Diana Shajari & Yuer Wang & Luigi Zialcita, 2022. "Boom, bust, action! How communities can cope with boom‐bust cycles in unconventional oil and gas development," Review of Policy Research, Policy Studies Organization, vol. 39(5), pages 541-569, September.
    2. Zack Taylor & Alec Dobson, 2020. "Power and Purpose:Canadian Municipal Law in Transition," IMFG Papers 47, University of Toronto, Institute on Municipal Finance and Governance.

    More about this item

    Keywords

    fracking; resource extraction; boom-bust economies; municipal finance;
    All these keywords.

    JEL classification:

    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H79 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other
    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

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