Some Americans call it the 21st century gold rush. Innovations in hydraulic fracturing and horizontal drilling have expanded the oil and gas market, producing jobs and contributing to economic growth. There is now enough readily available oil and gas to power the United States for up to 200 years.
But experts debate whether the boom will continue and if the environmental costs might outweigh the economic benefits in the long run. At least seven states report changes in the quality of their drinking water after fracking began. States like New York and New Jersey respond to these fears by placing moratoriums on fracking. Vermont banned it altogether.
Experts from the American Enterprise Institute and the Natural Resource Defense Council discuss what they think are the economic costs and benefits of the fracking boom.
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