Roby Brock
A U.S. Chamber of Commerce official warned an Arkansas audience that overregulation of fracking practices in the oil and gas industry could cost jobs, tax revenue, and the overall economy.
Karen Harbert, the President and CEO of the U.S. Chamber Institute for 21st Century Energy, was a featured speaker at an Arkansas State Chamber of Commerce/AIA luncheon held at Heifer International’s world headquarters.
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Harbert said a Colorado ballot initiative to allow local governments to supersede state fracking laws could also be detrimental if other states follow suit.
According to Harbert, Arkansas’ natural gas industry is expected to create 52,000 new jobs and produce nearly $900 million in tax revenue by 2020.
Harbert also touted that coal, gas, oil and nuclear power must remain a crucial component of the nation’s energy policy. She said that there is no quick or easy way to remove U.S. dependence on low-cost coal as a fuel for generating electricity despite efforts to replace it with alternative fuels.
“The dinner party is still going to be the same,” she said. “”We’re going to need it all.”
Read the full article at Talk Business Arkansas.