The Illinois Chamber Foundation estimates fracking in Southern Illinois could create more than 47,000 jobs and have an economic impact of more than $9.5 billion, based on a study conducted by the Illinois State University. The study did not include economic impact of land leases and royalties.
“Horizontal fracking is already going on in Indiana on the exact same shale plate we have in Southern Illinois,” Bost said. “If we create an environment where the companies do not generate enough profit to justify coming to Illinois, they know there are other states they can go to. ... Right now, companies are not doing it in Illinois now, but there are no laws to regulate it if they were to start. They could go ahead and come in. If we put a moratorium up, they will not even look at Illinois. They will sell what leases they have secured and go. I would rather we have the legislation in place before anyone starts doing it, and then be able to take advantage of the economic impact.”
Bost said after the spring break for the Legislature, the bill will be discussed in the House Rules Committee.