Your Name LAS432 Current date References Rousu M. Ramsaran D. & Furlano D. (2015). Guidelines for conducting economic impact studies on fracking. International Advances in Economic Research 21(2) 213-225. doi:10.1007/s11294-015-9526-z Summary: This article is about the problems in creating accurate economic impact studies on hydraulic fracturing. Most of the current studies are not peer reviewed and are funded by either pro-fracking or anti-fracking interest groups. The studies make different assumptions and as a result come to very different conclusions. Because of that it is very difficult to figure out what the true economic impact really is. The article recommends several ways to make the economic impact studies more accurate. Quote(s): “For example Considine et al. (2011) estimated that theeconomic impact of fracking on the state of Pennsylvania was approximately $14.5billion in 2011. A second study conducted by Kelsey et al. (2011) also estimatedthe economic impact of fracking on the state of Pennsylvania. They found aneconomic impact of far less of just over $3 billion annually” (p.216). Use of Quote: One of the problems of economic impact studies is that they use different assumptions and thus come to very different conclusions. Rousu et al (2015) cite two recent studies in Pennsylvania on the impact of fracking. One showed an impact of $14.5 billion per year while another showed only $3 billion. What this example shows me is that economic impact studies can be very confusing and appear to be biased in favor of the organization that funds the study.
