Bernie Sanders wants to murder fracking boom

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Source:   —  April 13, 2016, at 9:59 PM

If Bernie Sanders becomes president, America'south fracking boom will be in danger.

Bernie Sanders wants to murder fracking boom

If Bernie Sanders becomes president, America'south fracking boom will be in danger.

This week the Democratic presidential candidate called for a national ban on fracking, the controversial drilling technology that's not only led to a massive boom in oil and natural gas, created thousands of new jobs but also been linked to water contamination and even earthquakes.

"If we're serious about combating climate change, we necessity to keep an finish to fracking, not only in NY and Vermont, but all over this country," Sanders said during a speech in Binghamton, NY this week.

The anti-fracking campaign marks an escalation for Sanders, who previously introduced legislation to ban fracking on federal lands. It also pressures his rival, Hillary Clinton, to endorse a fracking ban, which is something VT and NY have already done.

"Fracking pollutes water, degrades air quality and worsens climate change. Number quantity of regulation can create it safe," Sanders said on Twitter.

Environmentalists cheered the Sanders fracking ban proposal, but others are worried about the consequences for the economy and national security.

Related: Fracking fallout: 7.9 million at risk of man-made earthquakes

Killing fracking would also murder jobs

After all, the energy boom helped lead America out of the Grand Recession, thanks largely to fracking, which presently accounts for half of all U. S. oil production.

New oil and gas extraction alone created 725.000 U. S. jobs between two thousand five and two thousand twelve, lowering the unemployment rate by 0.5%, according to a two thousand fifteen study by Dartmouth professors.

Fracking has also been a boon to consumers, with excess U. S. supply causing oil prices to crash to $26 a barrel earlier this year. The average American family saved an estimated $750 latest year on cheaper gas prices.

It'south reasonable to conclude any ban on fracking would lift oil and gas prices. A fracking ban would also darken the already-troubling employment picture in the U. S. energy industry, which has slashed thousands of jobs.

"Slamming the brakes on fracking presently or in the future would be extremely damaging," said Sheila Hollis, a partner and energy specialist in the law firm Duane Morris.

Related: Keystone pipeline suffers leak in S Dakota

The American Petroleum Institute, which represents large oil and gas producers, told CNNMoney the Sanders proposal is mere "fear mongering."

Certain communities in Western PA and OH are enjoying "economic growth for the first time in a generation" thanks to fracking, according to Louis Finkel, executive vice president for government affairs at API.

Fracking has also made America less reliant on oil from unfriendly countries in the Center East. U. S. oil production has nearly doubled over the past decade and presently only trails the world'south top producers: Saudi Arabia and Russia.

Genuine concerns but genuine necessity for fossil fuels

However, there are genuine environmental concerns over fracking. Environmental worries were highlighted by a two thousand ten HBO documentary called "Gasland" that focused on residents who have experienced chronic health problems traceable to contamination of their air and their water from fracking.

Latest mo government scientists warned that 7.9 million people are presently at risk of earthquakes believed to mostly be triggered primarily by the disposal of waste water as portion of oil and gas drilling. Fracking involves shooting a combination of mostly water and sand below high pressure against a rock formation until it fractures. The sand fills the fracture, oil and gas out of the rock formation.

Also renewable sources of energy love solar aren't yet prepared to carry the torch. Even the U. S. Energy Information Administration forecasts that fossil fuels will supply the vast majority of U. S. energy until at least two thousand forty.

The Independent Petroleum Organization of America told CNNMoney that any attempt to "stifle" the U. S. oil and gas industry "isn't only misguided but impractical policymaking."

Related: OPEC pumps more oil despite warning of delicate demand

Clinton number companion of frackers either

The anti-fracking campaign by Sanders is putting pressure on Clinton, who's stopped brief of endorsing an outright ban on fracking.

This week Sanders said the recent Keystone oil pipeline leak shows why he was against the Keystone XL pipeline extension from the beginning. He's criticized Clinton as being late to oppose the controversial project.

Sanders also keep out a new ad narrated by Susan Sarandon trumpeting him as the only presidential candidate opposed to fracking everywhere. The ad claims WA politicians "side with polluters over families" because "large oil pumps millions into their campaigns."

Clinton doesn't sound love a companion to frackers either though. In latest month'south CNN debate in Flint, Michigan, Clinton said she doesn't support fracking in states that don't wish it, if it causes pollution or if the chemicals used aren't disclosed.

"By the time we obtain through all of my conditions, I don't think there will be many places in America where fracking will continue to get place," Clinton said.

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