Posted on 02/17/2019 1:53:26 PM PST by Red in Blue PA
New York now imports nearly all of its gas even though part of the Marcellus Shale, one of the biggest and most prolific sources of natural gas in the country, extends into the state’s Southern Tier region. To get an idea of how much gas the state might have been able to produce from the Marcellus, New Yorkers can look across the state line to Pennsylvania, which now supplies about two-thirds of the gas consumed in New York. At the end of 2018, Pennsylvania drillers were producing about 18 billion cubic feet of gas a day. That’s more gas than Canada now produces.
By keeping its natural gas in the ground, New York has lost out on jobs and tax revenue. By 2015, some 106,000 people were directly employed by Pennsylvania’s oil and gas industry, making it a bigger employer than the state’s famous steel sector. This year Pennsylvania’s state government is expected to take in some $247 million in gas-related fees.
(Excerpt) Read more at wsj.com ...
True, but it still isn't enough to satisfy our greedy governor because we call them impact fees which go mostly to maintain, beef up and repair infrastructure in the gas producing regions.
Tommie the Commie wants extraction taxes which would pay the bottomless pit of education funding throughout the Commonwealth.
Cuomo should be made to shiver in the darkness in order to pay for his “green” virtue signaling to the mindless left.
Gov Monkey Face won’t allow drilling, but Binghamton, NY is making money off of hotel rooms and food for the workers. The Wegman’s in Johnson City, NY is packed with Gas Drillers in the evening and on Fridays.
” At the end of 2018, Pennsylvania drillers were producing about 18 billion cubic feet of gas a day.”
The conversion to equivalent energy in barrels of oil is about 6000 cu-ft of gas equals 1 barrel of oil. Using the above number of 18 billion, that comes out to the equivalent of 3 million barrels of oil per day. In terms of dollar value, if it were oil, it would be $50 Billion per year.
That, folks, is some SERIOUS PRODUCTION, as Texas, the national leader in oil production is just under 4 million barrels per day, and the entire USA is around 10 million.
The wealth is there, it’s now only a matter of whether the votes are also there.
Lost revenue from gas, lost jobs from Amazon, Cuomo blames Trump for the 2.8 Billion $ shortage in taxes. His one net gain is the reassurance that NYS will remain the Abortion Capitol of the US. The epitome of liberal mindset.
If PA keeps pumping, and NY sits on it, Does the NY gas seep back to the void created by PA? It is the same basin. Any gas guys out there?
Two Words: Horizontal Fracking.
. . . and we keep seeing a flood of those New York license plates in northern and western Pennsylvania.
Throw Al Gore in there with Cuomo.They could end up doing the French Mistake.
No, tight plays stay where they are unless the rock is fractured...hence the term “fracking”.
New Mexico is trying to go the way of New York with the recently elected bunch of enviro-nutters in the legislature and governors office trying to ban fracking, and restrict drilling and production with other measures in the name of preventing climate change. Of course the fact that NM is the number three producer in the US, with the O&G industry the largest employer in the state and providing over one-third of all state revenue doesn’t matter for the more radical of the newly elected. Some of them have the economic sense of AOC but cooler heads and the large flow of green oil dollars to the treasury will eventually temper their attempts, for this year anyway.
Guess they are coming in from Bradford/Susquehanna County?
New Mexico's take is over $1.1 billion dollars and the Dems, even those opposed to the industry, are looking for ways to spend it, and even add more taxes to wells on state-owned land.
Are you recommending subscriptions to the WSJ for all Freepers?
I have two friends that own farms both about 110 acres and both producing mucho natural gas.
I don't know how much they take in because of the gas but it means newer equipment, new metal roofs, remodeled houses and financially easier for the land owners.
New York citizens are being screwed because of several major cities {NYC,Albany etc}, but I know what the answer is to fix their demonRAT problem.
Snake Plissken.
Fredo has been bought and paid for by the Enviro Nazis.
Michigan produces 100 billion cubic feet most years.
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