The COVID Nat Gas Bailout

Pennsylvania Gov. Tom Wolf unveiled a program dubbed Back to Work PA earlier this month in his budget proposal that would impose an extraction tax on natural gas in addition to the impact fee producers already pay to state and local governments, according to The Morning Call.

The proposed tax would produce an estimated $300 million a year, depending on the price of natural gas, to pay the principal and interest on a $3 billion bond issue over 20 years. Wolf also claims the tax would not fall entirely on in-state consumers as about 75% of the gas produced in Pennsylvania is exported.

The Marcellus Shale Coalition, an industry group for gas producers in Marcellus formation, said the impact fee has provided more than $2 billion for community and environmental programs across the state since 2012. It disputed Wolf’s statement that the tax would be 2.8%, putting the rate at more than 12%.

http://shalegasreporter.com/news/pa-governor-considers-natural-gas-...

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Permalink Reply by Deb Reynolds on March 4, 2021 at 3:15am

The region will not see a penny of those monies, not in the past, not in the future. Wolf is not to be trusted. 

Permalink Reply by Moldyoak on March 7, 2021 at 3:35pm

That moron will come up with any reason, any excuse, any devious means to attempt to extort more money from the gascos.  After all, the state has all those bloated gov't pensions to pay and of course we've got to keep greasing up the Philthy grievance class to keep those votes coming in.  What a loser.

Permalink Reply by william Allen. Ladd on March 11, 2021 at 8:43am

Supposing you were the governor of any state,  would not you do the same thing?  No matter what your particular your political leanings were?  Every industry CEO and loyal followers are doing their best to find ways to shave off a few expenses and increase their income.   To disrespect anyone by calling them names like 'MORON'  puts you in their sight as someone who's opinion  will be dismissed or even if you have a legitimate claim, probably will not be looked at.   

Permalink Reply by Deb Reynolds on March 11, 2021 at 9:18am

I think the point can be made that the Governor, like those of the past, only really cares about the cities and the wealthy, and we poorer counties always get the short end of the stick. Those monies will go to the Cities, and we'll be left worse off than ever. A TRUE Governor would care for ALL his people. 

Permalink Reply by william Allen. Ladd on March 17, 2021 at 5:02am

I have to agree with you to a point Deb. Our voices do not mean too much in the long run.  But according to the news many of these big 'monkety monks'  are having to fend off their personal shenanigans as well as their political 'under the table' doings. 

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