Although drilling in the Marcellus Shale is expected to generate revenue in the trillions, Pennsylvania’s Governor elect Tom Corbett pledges not to tax the companies who are extracting this gas at great profitability, saying “A tax right now I don’t believe is appropriate”. He also concludes that taxing would “chase these companies away.”
Personally, I say, okay. If they are unwilling to pay the state and the people of Pennsylvania for the resources that they take and profit from — they shouldn’t be here.
One thing is certain, Pennsylvanians need the money.
The city of Pittsburgh is in a constant state of budget crisis, public transportation is being slashed by 35%, the pension fund is not funded and social services in every realm are being eliminated. The state capital of Harrisburg is on the verge of bankruptcy and the city of 50,000 is $280 million in debt (NY Times).
Leslie Haines, Editor of Oil and Gas Investor, stupidly asserts that “If they [Pennsylvania] do too much of a tax, people will go back to Texas, or they’ll go to Colorado and Wyoming or they’ll go to Alberta, wherever.”
But that is simply not true. They can’t leave — there is too much natural gas sitting under Pennsylvania for drillers to pass up.
I encourage you to watch these two videos produced by the Real News Network.
Pennsylvania to become “Gasland”?
Free Gas in Pennsylvania?
It’s pretty shocking and informative.
Do you want this in your backyard?
LAWRENCE TOWNSHIP, Pa. — Pennsylvania regulators said they’re halting all gas drilling activities by the company whose natural gas well spewed out explosive gas and polluted water for 16 hours on Thursday night and Friday morning in Clearfield County.
What can I do?
Check out a previous post for tips on what you can do.
Check out the events calendar organized by residents in Pennsylvania.
What do you think?