Surge in oil, natural gas activity boosted household income in 2012

September 4, 2013
By Ricardo Lopez
A surge in the unconventional production of oil and natural gas boosted U.S. household disposable income by an average of $1,200, according to a report released Wednesday by IHS, a research firm.
The report said that as the U.S. produces more energy, it will become less reliant on oil and other energy imports. The manufacturing process and price of goods and services have also become cheaper. Those savings are being passed on to consumers in the form of lower household energy bills, IHS said.
Read the full article at the Los Angeles Times.