At current rates, the Marcellus Shale formation could become the leading supplier of natural gas in the United States within a decade, according to an analysis released today entitled “The Pennsylvania Marcellus Natural Gas Industry: Status, Economic Impact, and Future Potential.” Taken in tandem with projections released earlier this year by the U.S. Department of Energy, the report shows that the Pennsylvania Marcellus could produce approximately a quarter of America’s natural gas by 2020. Conducted by researchers at Pennsylvania State University and commissioned by the Marcellus Shale Coalition (MSC), the new study analyzes production data and industry investments, as well as the overall economic impact natural gas development from the Marcellus Shale is having Pennsylvania.
By: Robert Bryce, The Wall Street Journal
The U.S. is on the verge of an industrial renaissance if — and it’s a big if — policy makers don’t foul it up by restricting the ability of drillers to use the technology that’s making a renaissance possible: hydraulic fracturing.
Tax Payments in First Quarter of 2011 Already Surpass 2010 Totals
At the direction of Governor Tom Corbett, the Department of Revenue today released an analysis showing that companies engaged in and related to natural gas drilling activities in Pennsylvania have paid more than $1.1 billion in state taxes since 2006.