But, have some sympathy for everyone's favorite devil;Between the price fall and the expansion of quantity consumed, we estimate that in 2013 fracking made buyers of natural gas $74 billion better off. Some of these gains accrued directly to households in the form of lower utility bills, while other gains went to commercial and industrial users. Even more gains were seen in the electric power sector as a direct result of lower input prices.
That's baseball.However, we estimate that producers have, on net, lost because of fracking (a $26 billion loss in 2013) – for them, the price decline has outweighed the quantity expansion. Moreover, while states such as Pennsylvania with large amounts of shale gas have benefited, states with primarily conventional reserves have on net lost because of the price decline.