Today's NY Post reports a study done by the NY Department of Environmental Conservation about drilling for natural gas in the state. According to DEC, drilling would create about 54,000 jobs and generate about 2.5 billion dollars of economic activity. It would also bring in about $100 million of additional tax revenues each year.
Of course, none of these benefits have been flowing to upstate New York since the state is too concerned about the environmental effects of hydrofracking. If there ever were a triumph of environmentalism over reality, this is it. Hydrofracking has been used for decades, although the use of it together with horizontal drilling is much newer. In all that time, there has never been any proof that it causes environmental problems. Sure, if the well is not properly drilled or the completion work not correctly done, there could be problems. The same can be said about driving: if the driver does not properly handle his car, there can be death and mayhem. The conclusion is not to ban driving, but to regulate how it must be done. Hopefully, New York will reach this conclusion and reap the benefits of the natural gas under its lands.
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