The federal government’s regulation surrounding fracking is causing an imposed shortage on natural gas in states like New York.
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Manhattan Institute senior fellow Robert Bryce told FOX Business’ Stuart Varney that New York Governor Andrew Cuomo (D) is pushing to take the state's greenhouse gas emissions down to net 0 by 2050.
“Remember New York’s C02 emissions on a per capita basis are already among the lowest in the United States so driving those lower is going to be very difficult and it’s going to be expensive,” he said during an interview on "Varney & Co." Wednesday.
Bryce wrote an op-ed piece in The Wall Street Journal stating how the gas shortages in the empire state is an early sign of the effects of the Democratic Party’s Green New Deal.
“In a preview of what life might be like under the Democrats’ proposed Green New Deal, some New Yorkers are about to face a natural-gas shortage,” he wrote.
Under the Cuomo administration, New York issued a moratorium on fracking that was made permanent after a report from the state's Health Department concluded that fracking would pose health risks to New Yorkers. However, this can mean higher electricity and gas prices for New York residents.
“Just a few days after the Con-Edison announcement that they were going to issue a moratorium on new gas connections in Westchester County, Con-Ed announced an 11 percent rate hike for gas customers and a 6% rate hike for electricity customers,” Bryce said.
According to Bryce, New York is uninterested in providing new pipeline capacity despite the economic impacts it may have to the city.