Pa. fracking boom goes bust
PHILADELPHIA DAILY NEWS: …It’s been a little more than two years since a then-new Gov. Corbett famously pledged to make Pennsylvania “the Texas of the natural-gas boom” – but already it’s beginning to look as if the governor was all hat and no cattle, at least on this issue.
By some measures, unconventional drilling for natural gas, or “fracking,” in the Marcellus Shale formation in Pennsylvania has dropped by more than 50 percent since its peak in 2010, the year Corbett was elected. Experts say that’s because of several factors – but the biggest by far is a steep plunge in the price that natural gas was getting on the open market, in part a result of so much fracking here and elsewhere.
But regardless of the cause, the end of the fracking boom in Pennsylvania, or at least a pause, has enormous implications – economically, environmentally and politically. The latest numbers show that new jobs in energy production in the state are flat at best – which could be another headache for Corbett as he defends his record on employment in what looks like an uphill battle for re-election… (more)