Regulatory Reform

Fracking in Illinois

fracking-in-ILBig news today out of Illinois: fracking can soon begin.

Today, the 12-member Illinois Joint Committee on Administrative Rules adopted regulations that govern hydraulic fracturing within the state, which will be made public by November 15th. Oil and gas companies can start applying for permits later this month. The rules will require such permits to be approved within 60 days.

Many in southern Illinois have long been pushing for hydraulic fracturing, citing a number of potential benefits, including increased tax revenue, high-paying jobs and additional investment. According to a study released two years ago by the Illinois Chamber Foundation, the region has the potential to create 47,000 jobs and more than $9.5 billion in economic development.




In Depth: Regulatory Reform

In his first inaugural address, Thomas Jefferson said that “the sum of good government” was one “which shall restrain men from injuring one another” and “shall leave them otherwise free to regulate their own pursuits of industry.” Sadly, governments – both federal and state – have ignored this axiom and …

+ Regulatory Reform In Depth