Processing Magazine

Fracking regulation might weaken economic growth, US Chamber of Commerce claims

December 5, 2013

<photocredit>Huiping Zhu/iStockphoto/Thinkstock</photocredit>

A scientific study on the effects of oil and gas drilling operations using hydraulic fracturing, due to be released next year, might prevent the United States from becoming the world's most powerful energy producer, according to an industry lobby group.

The biggest business lobbying group, the U.S. Chamber of Commerce, led by president Thomas Donohue, has told the Obama administration that the study could lead to fracking regulation that is likely to put an end to the rapid growth of an industry that is creating millions of jobs and having a positive effect on the entire U.S. economy.

According to Reuters, Donohue criticized the Obama administration for attempting to impose tight regulation on fracking operations and businesses. Donohue called on the media to spread his message, stating that the rules were not only harmful to the economy but were also "undermining freedom."

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The U.S. Environmental Protection Agency's study on the impact of fracking was commissioned by Congress in 2010 and its findings may lay the foundations of future fracking regulation. Emily Cain, spokeswoman for the White House Office of Management and Budget, stressed that the Obama administration would take into account all the benefits and will weigh in the pros and cons before finalizing the rules. The federal government will try to support economic growth without compromising over public health and environmental protection, she added.