Pennsylvania Governor Announces Plans to Implement Certain Marcellus Shale Suggestions

0
934

Pennsylvania Governor Tom Corbett intends to both stimulate the state’s economy and preserve the state's environment, he announced in implementing several suggestions advocated by the Marcellus Shale Advisory Commission.

The changes include an impact fee for businesses, measures aimed at reducing the impact of exploration and production activity on the environment and actions intended to help the state move towards energy independence.

"This natural resource will fuel our generating plants, heat our homes and power our state’s economic engine for generations to come," Corbett said in a statement. He added that the plan would create new jobs.

Each well drilled will be assessed fee that can as high as $40,000 for the first year, $30,000 for the second year, $20,000 for the third year and $10,000 for years four through 10. These fees could add up to as much as $160,000 for each well.

Corbett's new fees for wells drilled came in response to repeated polls which showed that that respondents desired that extraction fees or taxes be levied, The Patriot-News reports. The fees will be collected at the county level, which could generate bureaucratic challenges.  

Previous articleStrategic Oil and Gas Announces Results from First Horizontal Oil Well
Next articleCanaccord Genuity Reiterates Rating and Price for Birchcliff after Sale Process Announcement