The Obama Administration is expecting new fracking regulations to be finalized by the end of the year. While this news may satisfy President Obama’s base, it has the potential to disrupt what has become a remarkably effective energy practice.
Fracking has been shown to dramatically increase oil production, and in the process improve local economies. ‘The North Dakota Miracle’ perfectly illustrates the remarkable upside of fracking. North Dakota, using fracking, recently gained access to the oil in their Bakken oil field. Consequently, its oil production quadrupled since 2005. With this increased oil production came jobs. The state unemployment rate now hovers around three percent, well below the national average. Unfortunately, the federal government is not content to simply watch North Dakota and other states enjoy record oil production and added jobs:
Heather Zichal, the top White House energy aide, told reporters that she expects the Interior Department rules regulating hydraulic fracturing, dubbed fracking, to be completed by year’s end.
An Interior department spokesman offered the same forecast Friday. But the comments from a senior White House official could help ease jitters among environmentalists, who fear the extension of the comment period, until mid-September, on the draft rules could set back the measure.
“We are committed to doing the rule and we are committed to finalizing it,” Zichal told reporters after remarks at the think tank NDN.
Time will tell if the fracking boom will survive the coming bureaucratic regulations. For the sake of energy production and job creation, let’s hope it does.
This post was authored by Townhall.com editorial intern Kyle Bonnell.