Daily Ticker: Fracking Good for the Economy?

Link here to a throwaway article. Regular readers, I doubt, will see much new here. A feel-good story.

In a welcome development almost no one saw coming, America's greenhouse gas emissions have fallen to 1992 levels and are expected to continue to decline, according to the U.S. Energy Information Agency (EIA).

In addition to a sluggish economy and more fuel efficient cars, "fracking" has been a big driver of this trend. "Fracking" is shorthand for hydraulic fracturing, the process of extracting natural gas from shale rock. The EIA projects U.S. greenhouse emissions will fall below 2005 levels by 2040.

"It is a revolution," says Joel Kurtzman, a senior fellow at the Milken Institute. "We should be using it. We should be embracing it. It's domestic. We spend $350 billion a year buying foreign oil. We can replace almost all of that with natural gas."