And producing American energy creates American jobs. In South Texas, the increased use of hydraulic fracturing (fracking) to access oil and natural gas in the Eagle Ford Shale formation has created thousands of well-paid jobs.
According to data from the Department of Commerce’s Bureau of Economic Analysis, average per-capita incomes in counties with Eagle Ford Shale wells jumped more than 13 percent from 2008 to 2011. Across the United States, income fell.
As our country continues to face a fiscal crisis, it is clear that Congress needs to cut spending and prioritize the investments that will provide a good return for American taxpayers. STEM education initiatives, space exploration and investments in basic research are the long-term investments that will provide economic growth and help us ensure America’s future prosperity and success.
Rep. Lamar Smith, R-Texas, serves as chairman of the House Science, Space, and Technology Committee.