Gov. Ed Rendell said more time is needed to see how the industry develops in Pennsylvania. [In other words, lets wait until we lure them here and then we'll really fleece them]
An economic impact study by Penn State researchers said curtailment of drilling activity that would result from the imposition of a proposed severance tax would generate $1.4 billion less state and local total tax revenue between now and 2020 than if the industry is allowed to grow without the tax.
Opponents fear the tax would result in less job creation and overall economic benefits in Pennsylvania. The economic impact study predicts Marcellus Shale development will pump $14.17 billion into the state’s economy in 2010 and create more than 98,000 jobs, while generating $800 million in state and local tax revenues
Pike County Press Story