Download now: King Coal Triple Play

Pennsylvania Votes on Fracking

Proposed Bill Sets Drilling Standards

Written by Brianna Panzica
Posted February 6, 2012

Pennsylvania currently has no tax on natural gas production, and it is the only state in which this is true.

But that all could change with new legislation being discussed by the House, Senate, and state governor Tom Corbett.

Legislators are working on a bill that would impose an impact fee on companies drilling in Pennsylvania’s Marcellus Shale.

The details of fee, and the bill itself, have not been released, though officials have said the fee will fluctuate with natural gas prices and inflation.

In addition to the impact fee, the bill would also require a standard distance between wells and drinking water supplies, aiming to appease environmentalists and citizens with the fear that hydraulic fracturing chemicals are leaking into drinking water.

And it would set a standard for the transportation of wastewater, making sure the most questionable parts of fracking were regulated.

According to officials, the money acquired from impact fees would go to a number of state projects, including cleanup and repairs.

Two legislatures involved in the negotiations wrote in a letter:

“These discussions have progressed rapidly over the course of the last two weeks.  In fact, staff have been working throughout the weekend and will be working tomorrow in order to have a proposal that we can consider as early as this week.”

More details regarding specifics will emerge as the committee solidifies the proposal for the bill.

When negotiators arrive at the final proposal, it will be put to a vote among lawmakers for the state.  As the letter said, that could occur this week.

That’s all for now,

Brianna


Energy demand will increase 58% over the next 25 years.

Trillions will be spent to secure the world's energy supply over the next two decades... and all sources are on the table.

Oil, Natural Gas, Solar, Wind. There will be money made.

Follow the money trail. Sign up for Energy and Capital now--It's free.

We never spam! View our Privacy Policy

By signing up, you'll also get our latest report, Six Oil & Gas Steals.


Related Articles

Fracking Opportunities
Editor Jeff Siegel discusses another possible way to profit from shale gas.
States Aren't Backing Fracking
Guest contributor Brianna Panzica looks at governments weighing the risks of hydraulic fracturing.
Texas Drought Imposes Fracking Limitations
Fracking concerns the local people because they fear it can contaminate the water supply, and now feared even more is if fracking will use too much water during the intensifying drought.
Apache to Buy Cordillera Energy
Apache will acquire Cordillera's thousands of acres in a shale play.


Invest in the Lithium Revolution
Lithium Demand is Going Berserk
Investing in the Tesla (NASDAQ: TSLA) Powerwall
Tesla (NASDAQ: TSLA) Just Killed Your Power Company
Tesla (NASDAQ: TSLA) Powerwall Investing
How to Make $800 Million in One Week!
Putin and Saudi Arabia: Oil Dream Team Meet
Marijuana Bank Investing
3 Guaranteed Profits: Gambling, Prostitution, and...
New Report: Nuclear's Worldwide Expansion