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This paper presents evidence on the distributional effects of energy extraction by examining the recent U.S. energy boom. The boom increased local wage rates in almost every major occupational category. The increase occurred regardless of whether the occupation experienced a corresponding change in employment, suggesting a more competitive labor market that benefited local workers. Local housing values and rental prices both increased, thereby benefiting landowners. For renters, the increase indoi:10.2139/ssrn.2972681 fatcat:jfxmbukycneh5bzkuqvtxzdrma