All the World's a Sumthing: Marcellus Shale Tax is a MUST

Monday, September 20, 2010

Marcellus Shale Tax is a MUST

The next two weeks makes a BIG difference in how well Pennsylvania prepares itself for a boon of natural gas drilling in the Marcellus shale formation. Many eyes are on the Marcellus Shale and the elected officials and legislators who committed to passing a tax by October 1. The tax is important as it will help fund conservancies and ensure optimum regulation of drilling that does occur. More on info can be found at Google News Stream.
Amplify’d from www.mcall.com
State official: We must have a Marcellus shale tax
DCNR's Quigley says the levy is vital to protect, preserve environment.
Pennsylvania has the next two weeks to seize a once-in-a-lifetime opportunity to support the environment and oversight of the natural gas drilling industry by passing a Marcellus shale severance tax
While acknowledging that gas drilling can be harmful to the environment, Quigley said the state cannot overlook the economic benefits and the fact that natural gas burns cleaner than other fossil fuels.
The gas industry isn't going to leave Pennsylvania if a tax is passed, he added, saying that drillers are finding the Marcellus deposit provides plentiful and pure gas. The energy companies also get a federal investment tax credit when they drill, so "you're already paying for those wells."
"The political climate suggests if we don't get it enacted now, it's highly unlikely that we'll see the … severance tax any time soon," Quigley said. Passing the tax will "shape the face of Pennsylvania for the next 100 years."
See more at www.mcall.com