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Dreams of gas riches fading for NY landowners
AP via news.yahoo.com ^ | Tues Feb 26, 2013 | Mary Esch

Posted on 02/26/2013 5:10:10 PM PST by posterchild

BINGHAMTON, N.Y. (AP) -- When word spread about the potential natural gas riches of the Marcellus Shale, Kimberly More saw it as the hope for saving her horse farm.

She figured that leasing her 170 acres to a drilling company could bring an upfront bonus of nearly half a million dollars, plus a monthly royalty when gas starts to flow, enough to pay for a new house, a new barn and her own riding business.

"I have three young girls. My husband left," More said. "I don't want to be on social services. I want to take care of my family with my own land." But five years later, her natural gas dreams and those of thousands of other New York landowners have faded to frustration as a decision languishes on whether the state should allow fracking, the process of extracting gas by drilling horizontally through the shale and breaking it apart with chemically treated water.

They're waiting for environmental studies about the potential for groundwater contamination. They're waiting for drilling rules and regulations to be drawn up. And most of all, they're waiting for New York Gov. Andrew Cuomo to make up his mind on whether to lift a moratorium on fracking.

The latest delay came when the Cuomo administration announced earlier this month that more time was needed to study potential health impacts. That means the Department of Environmental Conservation won't make Wednesday's deadline to adopt proposed regulations, which will have to be resubmitted and subjected to public hearings and comment.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Government
KEYWORDS: fracking; naturalgas; newyorkfracking; newyorknatgas; newyorkoil; oil

1 posted on 02/26/2013 5:10:14 PM PST by posterchild
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To: posterchild

No surprises here.


2 posted on 02/26/2013 5:16:13 PM PST by jivin gene (Breakin' up is hard to do)
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To: posterchild
bringing millions of dollars into the state and state coffers through taxation takes a year of dithering, killing the second amendment is done in hours, behind closed doors in the middle of the night...
3 posted on 02/26/2013 5:17:32 PM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
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To: posterchild
And most of all, they're waiting for New York Gov. Andrew Cuomo to make up his mind on whether to lift a moratorium on fracking.

Waiting for a liberal to decide a business issue is a fools game.

4 posted on 02/26/2013 5:18:56 PM PST by FatherofFive (Islam is evil and must be eradicated)
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To: posterchild

CuHomo is just figuring out how to unionize the fracking industry in NY


5 posted on 02/26/2013 5:29:31 PM PST by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
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To: FatherofFive
Waiting for a liberal to decide a business issue is a fools game.

In this case, it may not be ideology. It may be economics.

There won't be any fracking in New York State until the politicians and their cronies have bought up most of the land from the bankrupt farmers.

Then, and only then, will there be fracking.

6 posted on 02/26/2013 5:30:10 PM PST by okie01 (The Mainstream Media: IGNORANCE ON PARADE)
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To: posterchild
I don't even know where to start. I'm not sure which side is running the propaganda or why.

Does this woman, actually think she's gonna get nearly a 1/2 million dollars up front, without knowing if they will even find gas on her property? That, if they do, she will become rich off of 170 leased acres..., hardly room for two wells...on Natural Gas? Her view is very unrealistic - even if they could friggin frac! She must be one of these women who think money falls out of the oil mans pants as he walks along the property.

I know of what I speak. I have appx 400 leased acres in the Barnett Shale - a proven play. Two producers. I am nowhere near rich, the price of NGO is low, every entity possible has their hands in my pocket taking taxes.

Good luck Hun...LOL!

7 posted on 02/26/2013 5:30:47 PM PST by KittenClaws (You may have to fight a battle more than once in order to win it." - Margaret Thatcher)
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To: posterchild

I’ll bet this stupid slitch will still pull the lever marked “D” in the next election.


8 posted on 02/26/2013 5:35:05 PM PST by Lurker (Violence is rarely the answer. But when it is it is the only answer.)
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To: PMAS

and tax the crap out of it...


9 posted on 02/26/2013 5:37:39 PM PST by Sacajaweau
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To: Chode

Son you’re talking evil hydrocarbon based energy here.

Everybody knows that’s as dangerous as a 2-liter Coke with your pizza....


10 posted on 02/26/2013 5:38:41 PM PST by nascarnation (Baraq's economic policy: trickle up poverty)
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To: posterchild
Commissar Cuomo can push a draconian gun law through in three days that violates the 2nd Amendment in dozens of different ways - but he needs years to "study" and ruminate endlessly over this slam dunk of a bonanza!
11 posted on 02/26/2013 5:40:58 PM PST by Gritty (The 2nd Amendment protects the right to shoot tyrants effectively, not deer-Judge A. Napolitano)
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To: nascarnation
sums it up pretty good...
12 posted on 02/26/2013 5:43:56 PM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
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To: Darksheare

FYI ping.


13 posted on 02/26/2013 5:47:11 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: Army Air Corps

Saw that.
Ugh.


14 posted on 02/26/2013 5:50:56 PM PST by Darksheare (Try my coffee, first one's free.....)
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To: posterchild

No problem, Kimberly. The drillers in Pennsylvania will just slant their drills and reach that gas.


15 posted on 02/26/2013 5:52:57 PM PST by count-your-change (you don't have to be brilliant, not being stupid is enough)
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To: Sacajaweau

“and tax the crap out of it...”

They already have that one figured all out


16 posted on 02/26/2013 5:55:42 PM PST by PMAS (All that is necessary for the triumph of evil is that good men do nothing)
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To: posterchild

We all need to stop electing and re-electing anti-business legislators.

Until we do, we are just going to get poorer and poorer.

Hopefully this nation will wake up in time.


17 posted on 02/26/2013 5:56:38 PM PST by Persevero (Homeschooling for Excellence since 1992)
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To: posterchild

If Cuomo and the other Marxists have their way, they’ll still be “studying” it 50 years from now.


18 posted on 02/26/2013 5:59:01 PM PST by SharpRightTurn (White, black, and red all over--America's affirmative action, metrosexual president.)
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To: posterchild

“Chemically treated water...” the stuff is less dangerous than the soda pop that Mayor Bloomberg is soon to limit New Yorkers’ consumption of.


19 posted on 02/26/2013 6:10:01 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: count-your-change

20 posted on 02/26/2013 6:12:02 PM PST by USFRIENDINVICTORIA
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To: okie01

YOU win the kewpie doll!!!

Seriously, individuals like that lady should back-charge the state for the losses, or sell the property while RESERVING the mineral rights or a significant portion thereof.


21 posted on 02/26/2013 6:14:08 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: okie01
There won't be any fracking in New York State until the politicians and their cronies have bought up most of the land from the bankrupt farmers. Then, and only then, will there be fracking.

Very astute...and true.

FMCDH(BITS)

22 posted on 02/26/2013 6:33:07 PM PST by nothingnew (I fear for my Republic due to marxist influence in our government. Open eyes/see)
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To: KittenClaws

***Does this woman, actually think she’s gonna get nearly a 1/2 million dollars up front,***

Most likely she will be offered a two year contract for a few hundred or thousand dollars to give a company rights to drill, WHEN THEY WISH.

If they drill and find gas she will most likely be given the choice of 1/8 or 3/16 of the royalties as long as there is recoverable gas in the well.

The royalties will be partitioned out with other land owners in that particular drilling area.


23 posted on 02/26/2013 6:35:23 PM PST by Ruy Dias de Bivar (THE SOUND OF MUSIC at the POTEET THEATRE in OKC! See our murals before they are painted over!)
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To: posterchild

The hard Left Marxists currently running most of America don’t like anyone making money except themselves; it’s an old, old story, as witnessed in the histories of Russia, China, Cuba, Vietnam, and many other places.

Guess it’s America’s turn now to fall to communism.


24 posted on 02/26/2013 6:39:25 PM PST by Jack Hammer
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To: posterchild
More said. "I don't want to be on social services. I want to take care of my family with my own land."

That right there is the sort of attitude our wonderful socialist utopia is designed to stunt.

Soon as the government and/or liberal NGOs get control or ownership of her land, THEN the oil spigot can be turned on.

25 posted on 02/26/2013 6:39:25 PM PST by meadsjn
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To: Ruy Dias de Bivar

3% is the going rate, unless you are very skilled. With an unproven play, she’ll bring in a few hundred on a three year lease, with proven production, she could draw several thousand at least every two years.

Most likely, with her limited amount of land, she could draw around 20k yearly with a Producer..

As far as other landowners are concerned, sure, they could pool, and horizontal drilling could play a part, but, well, see above “unless you are very skilled”


26 posted on 02/26/2013 6:45:30 PM PST by KittenClaws (You may have to fight a battle more than once in order to win it." - Margaret Thatcher)
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To: FatherofFive
And most of all, they're waiting for New York Gov. Andrew Cuomo to make up his mind on whether to lift a moratorium on fracking.

The only people in the State of New York Cuomo gives a s**t about are those few high dollar donors who live in Manhattan. A completly worthless but very wealthy ding bat like Yoko Ono means far more to Cuomo than tens of thousands of struggling hard working people like this woman.

If fracking isn't deemed to be PC by the leftist elite, there won't be any fracking in New York. Those elites could care less about that peon woman, her children, her horse farm, or all of the small towns upstate that are dying a slow death due to their left wing BS.

27 posted on 02/26/2013 7:09:50 PM PST by Ditto
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To: posterchild

Lefties want us back in the stone age. No oil, no coal, no natural gas, etc. They don’t want hydro-power or Nuke power. It’s all about penalizing humanity and control.


28 posted on 02/26/2013 7:23:52 PM PST by TheBattman (Isn't the lesser evil... still evil?)
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To: posterchild
Meanwhile ND is creating millionaires at a rate of 2000 a year....

Adam Smith's invisible hand working overtime.

29 posted on 02/27/2013 2:42:03 AM PST by spokeshave (The only people better off today than 4 years ago are the Prisoners at Guantanamo.)
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To: posterchild
a decision languishes on whether the state should allow fracking

Life with Democrats. She should move her horse farm to Cook County. She'd not notice a difference.

30 posted on 02/27/2013 3:07:48 AM PST by 1010RD (First, Do No Harm)
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To: Ditto
The only people in the State of New York Cuomo gives a s**t about are those few high dollar donors who live in Manhattan.

Years ago, during the Carter energy crisis, I had a bumper sticker directed to the enviro whackos in the Northeast:

Let them freeze in the dark

31 posted on 02/27/2013 7:29:42 AM PST by FatherofFive (Islam is evil and must be eradicated)
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To: FatherofFive
Albertans, at that time, had a similar bumper sticker. It said "Let the Eastern Bastards Freeze in the Dark". (They were referring to the voters east of Manitoba, who put Pierre Trudeau in power.) There was also a book:


32 posted on 02/27/2013 2:39:45 PM PST by USFRIENDINVICTORIA
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