The slow-motion process of developing state regulations to allow natural gas hydro-fracking in upstate New York seems to have reached stall speed, now that Governor Andrew Cuomo has ordered up a new health impact review that could force the Department of Environmental Conservation to miss a Nov. 29 deadline for issuing fracking rules.
A June 2011 report by the Manhattan Institute’s Center for Energy and the Environment reviewed the likely economic impacts and reached this conclusion:
If the moratorium [on hydrofracking] is maintained, New York residents not only pay an opportunity cost, in present-value terms, of over $11.4 billion in lost economic output from 2011 to 2020; they lose state and local tax revenues of $1.4 billion and employment levels of 15,000 to 18,000 jobs.
While the process stalls in New York, the Pennsylvania shale gas boom has now spread to Ohio.
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