Letter: Consider the Economic Benefits of Fracking

I read with interest Rebecca Rona Tuttle’s piece on fracking and the legislature.

It is important to look at the environmental costs but it is equally important to look at the potential benefits economically.

Please see a report that USC and our institute produced this year on the economic impact of development of the Monterey Shale. (Editor's note: Click here to read the report).

We underscore the need to look at the environmental issues but we also found the potential economic benefit staggering. I live in the San Fernando Valley and our economy in Southern California including house prices are in good shape but that is not the same where the bulk of any major fracking operation would occur, not in the LA region.

Recently, the Huffington Post noted that Fresno has the highest poverty rate in the nation. Most of the central valley counties have unemployment rates of 13+ percent I think the city of Mendota has an unemployment rate of more than 35 percent. Our study found that by 2020 2.7 million jobs could be created and that was a median number. Tax revenue to state and local government would be as much as $25 billion a year by 2020. Many central valley counties and cities have had dramatic drops in services to those in need because of the impact of depression level economics in the region. Stories by media in the coastal areas simply ignore this reality.

The fundamental question is how can we use new technology to develop our natural resources while protecting the environment?

First, the major use of fracking will be in the central valley and not in Culver City or the Los Angeles Basin. We live in one state and we here in the wealthier area of Southern California ought to think about those families in the valley that are having a tremendously difficult time just surviving.

We are not here to lobby for or against fracking but want to ensure that policy makers and voters have the full story.

Sincerely,

John E. Cox, Jr.

President Communications Institute

www.communicationsinstitute.org

Editor’s note: Letters may be edited for brevity and clarity.

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