A report from the U.S. Department of Energy’s (DOE) Office of Fossil Energy says a ban on hydraulic fracturing (“fracking”) would cost millions of jobs, result in trillions of in lost gross domestic product (GDP) and labor income, dramatically increase gasoline prices and electricity bills, and increase emissions of carbon dioxide and various pollutants.
Average gasoline prices would more than double by 2023 to $4.20 per gallon, according to DOE’s analysis. Americans would pay an additional $1.19 trillion in petroleum costs through 2025.
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