July 3, 2012
Over the past several years, only 14 states have experienced an increase in median household income. Excluding the District of Columbia, the five states with the greatest increase in household income are also energy-producing states.
A new Heritage Foundation chart makes this clear:
Energy producing states will likely enjoy a sustained economic boost, Heritage’s Rob Bluey explains:
Energy has helped boost income in other states as well. The U.S. Energy Information Administration ranks Wyoming, West Virginia and Colorado among the top 10 energy-producing states in America. All three had a household income increase above 4.8 percent.
Last month, Heritage featured a video about the successes of fracking in North Dakota. The formerly sleepy town of Tioga, North Dakota is a fracking success story. Fracking has allowed the oil stores beneath Tioga to be harvested, driving the small town’s rejuvenation. Tioga is a great example of a small town which has benefited from fracking and is now flourishing. View Heritage’s video on Tioga here.
Has your state benefited from energy production?