Pa. fracking boom goes bust

Posted on September 11th, 2013 in News and Commentary

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)

Share

2 Comments on “Pa. fracking boom goes bust”

  1. Anonymous

    This isn’t the industry Allison Schwartz wants to tax is it?

  2. Anonymous

    The article makes it sound as though “natural gas is over,” but that couldn’t be farther from the truth. New drilling may be down, but gas output is still growing by leaps and bounds. According to the Pa. DEP, drillers extracted 1.4 trillion cubic feet of gas in the first six months of 2013, which is up 22.6 percent from the previous six months and up 57 percent year-on-year.

Leave a Reply

*

More News

Credo

"....I have never made it a consideration whether the subject was popular or unpopular, but whether it was right or wrong; for that which is right will become popular, and that which is wrong, though by mistake it may obtain the cry or fashion of the day, will soon lose the power of delusion, and sink into disesteem." Thomas Paine, Common Sense, on "Financing the War", March 5, 1782

Categories

Blog Archives

NewsLanc looks back at a decade of service

NewsLanc looks back at a decade of service

NewsLanc looks back at a decade of service

At 77, we cannot be confident that there will be ...

Convention Center Series

Convention Center Series Index

Convention Center Series Index

Chapter 1: Beginnings- Revised Chapter 2: Dream Team- Revised Chapter 3: Helping ...

Honoring those who challenged the Convention Center Project

Earlier this month, NewsLanc published “The $63.6 million convention center ...

Keisling on Pennsylvania Politics

Should Pennsylvania Attorney General Kathleen Kane resign? Or is Kane a butterfly on the torture wheel?

by Bill Keisling Should Pennsylvania Attorney General Kathleen Kane resign? This seems ...

Kane antagonists complain of slowness of due process

There's a growing recognition that AG Kathleen Kane isn't ...

Lancaster Acquisition of Harrisburg Incinerator

Prospects cloudy for Corbett’s Harrisburg bailout

Prospects cloudy for Corbett’s Harrisburg bailout

by Bill Keisling Corbett Administration officials publicly say the Act 47 ...

Coalition forming to challenge Corbett administration’s Harrisburg bailout plans involving LCSWMA incinerator purchase

by Bill Keisling Citizens dissatisfied with the Corbett administration's plan to ...

Tsukerman on Russia

Government of today’s Ukraine is not what it used to be

By Slava Tsukerman It is not a secret that Ukraine is ...

Guess who the Russians blame for undermining their youth?

By Slava Tsukerman The main attention of Russian media in the ...

Memoirs

I receive a Shabbat message

In the early, clear and sunny Saturday morning on ...

Meaning of My Morning Prayer

“Blessed is the Eternal our God who has awoken me ...

Santa Monica Reporter

“Ex Machina” and “While We’re Young:” a mechanical woman and a mechanical plot

By Daniel Cohen, Santa Monica Reporter Robots have always been prominent ...

Post Mortem on Winter; Fifty Shades of Whips, Tyrants, and a Bond parody

By Dan Cohen, Santa Monica Reporter Last spring we suffered through ...

LGH Series

Does U of P Health System intend to become a health insurance company like Geisinger?

By Robert Field Lancaster General Hospital refuses to provide information to ...

LETTER: Lancaster General manipulates health care

How many people in Lancaster realize that their health care ...