Local Governance and Public Finance Challenges of the Fracking Boom: Lessons for the US and Canada

Hydraulic fracturing drilling - commonly known as fracking - makes up the majority of US oil output. Canada may soon follow. This presentation focuses on the impacts of boom-bust resource extraction cycles on local revenues and expenditures and intergovernmental relations. During the boom, local governments must provide new infrastructure for an expanding industry and maintain social service levels for a rapidly growing population. During the bust, municipal governments may find themselves over-extended with declining revenues while facing a new set of service challenges.