From the TIMES TRIBUNE:
(Part two in a three part series) To hear opponents of a severance tax on natural gas extraction tell it, the gas industry is a vulnerable infant that must be protected by the state government.
If Harrisburg imposes a severance tax, they warn, the industry will go elsewhere and Pennsylvania will miss out on all of the economic benefits of the Marcellus Shale boom.
The argument is, of course, poppycock. The drillers are here because the gas is here. Production reports filed by drillers show that many wells actually exceed projections. Chesapeake Energy, for example, has upgraded its projections for production based on the performance of wells in Susquehanna and Bradford counties…
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