Question

Hydraulic fracturing (fracking) has the potential to significantly increase the amount of natural gas produced in the United States. If a large percentage of factories and utility companies use natural gas, what will happen to output, the price level, and employment as fracking becomes more widely used?

Answer 1

Answer:

The report shows how consumers would bear the impacts of a hydraulic fracturing ban through higher electricity and natural gas costs. Retail electricity costs would increase by more than $480 billion between 2021 and 2025, and retail natural gas costs would increase by more than $400 billion between