Policy Center reports Marcellus Shale not beneficial September 5, 2013 – Pennsylvania Budget and Policy Center – a nonpartisan policy research that provides analytical data on a host of statewide initiatives – has waded into the controversial Marcellus Shale drilling in the state, and proponents of the endeavor will not like what the PBPC is reporting. According to the center, Pennsylvania will enjoy less of a financial boom for shale drilling as compared to neighboring states. When adding up all the costs – both environmental and fiscal – the PBPC argues that a change in the drilling tax is the only for this industry to truly benefit Pennsylvanians. “In 2012, Pennsylvania enacted an ‘impact fee’ on natural gas wells drilled into Pennsylvania’s Marcellus Shale that generates a relatively small amount of revenue from the expanding gas industry,” wrote PBPC Research Director Michael Wood in his report, “A Look at Other States Shows Marcellus Impact Fee shortchanges Pennsylvanians.” He also noted, “replacing Pennsylvania’s impact fee with a modest 4 percent severance tax could generate $1.2 billion annually by 2019-20, three times the current fee. phillytrib/cityandregionarticles/item/10698-policy-center-reports-marcellus-shale-not-beneficial.html Full report: pennbpc.org/look-other-states-shows-marcellus-impact-fee-shortchanges-pennsylvanians PDF: https://pennbpc.org/sites/pennbpc.org/files/PA-Impact-Fee-Compared-to-TX-WV-8-8-2013-final.pdf
Posted on: Fri, 06 Sep 2013 13:33:51 +0000