September 29, 2012
By Kathryn Z. Klaber Philadelphia's access to key waterways and markets - bolstered by the commonwealth's rich natural resources - has long positioned Southeastern Pennsylvania as a powerful economic engine. Philadelphia's piers, and the region's economy, have long been sustained by coal, petroleum, and other energy resources. The city's natural-gas history is also deep. In 1836, according to the Philadelphia Gas Works, "Forty-six natural gas lights along Philadelphia's Second Street were lit for the first time by employees of the newly formed Gas Works.
September 26, 2012 |
We have heard from readers who insist that they want to invest in America's oil- and gas-drilling industry, but not always through one of the more common vehicles, known as master limited partnerships. A master limited partnership is different from a corporation. It is a group of partners, rather than a separate entity. The most distinguishing characteristic of MLPs is that they combine the tax advantages of a partnership with the liquidity of a publicly traded stock. Investors often don't want the hassle of investing in something that isn't structured like a plain-old share of stock.
September 24, 2012
"It is beyond belief that there are still people who would trade this progress for a return to the status quo. " - Gov. Corbett, referring to opponents of drilling for shale gas, in remarks at the Marcellus Shale Coalition convention in Center City. "I think it is disingenuous for the governor to dismiss his opponents as a fringe element of naysayers. " - David Masur of PennEnvironment, protesting outside the shale-gas convention. "We are really, really sad. I hope they call us back because these are really, really good jobs.
September 22, 2012 |
Supporters of the Marcellus Shale industry on Thursday hailed Pennsylvania's natural-gas boom for launching a veritable economic revolution but cautioned that much work still needs to be done to convince skeptics that drilling can be conducted safely. At the Shale Gas Insight conference at the Pennsylvania Convention Center, Marcellus Shale drilling was credited with generating $11 billion in value-added economic impact in 2010, supporting 140,000 jobs, and contributing $1 billion in state and local tax revenue.
September 21, 2012
By Mike Krancer In Pennsylvania, we're seeing how rational and responsible energy policies can transform America into an energy superpower, create high-paying jobs, generate new revenues, and drive the cost of energy down. Best of all, we're applying our state's unique expertise to ensure that our environment is protected whenever and wherever energy development occurs. From experience, we know there is no "choice" that must be made between environmental protection and energy development.
September 21, 2012 |
Hundreds of self-proclaimed "fracktivists" rallied and marched through Center City on Thursday afternoon, protesting the Shale Gas Insights conference and urging governments at all levels to ban the natural-gas-drilling process known as fracking. Opponents say the hydraulic fracturing process pollutes local aquifers, causes serious health problems, and will result in net job loss. For more than two hours, speakers described what they called adverse effects of the process near their homes.
September 20, 2012 |
The Marcellus Shale natural-gas industry has not exactly enjoyed a warm civic embrace in Philadelphia, where City Council last year famously called for a moratorium on drilling because of environmental worries. But the Marcellus Shale Coalition, the industry trade association, will occupy the Convention Center over the next three days to demonstrate that Pennsylvania's shale-gas boom is having economic benefits beyond the rural areas where drilling is taking place. The coalition's Shale Gas Insight conference, which will attract Gov. Corbett as well as hundreds of protesters, will tout the effect natural gas has had on lowering utility rates, generating jobs, and improving air quality by displacing coal in power generation.
August 6, 2012 |
Michael Krancer, Gov. Corbett's chief environmental regulator, seems to delight in doing battle with critics of the state's oversight of the Marcellus Shale gas boom. In May, Krancer said that Delaware "smells like the tail of a dog" because of its opposition to drilling regulations proposed for the Delaware River Basin. In a congressional hearing, he challenged a Cornell University scientist to a duel over hydraulic fracturing (just kidding, Krancer said). Then there were Krancer's snarky skirmishes with the U.S. Environmental Protection Agency over regulation of drilling, which is traditionally a function of state agencies like Pennsylvania's Department of Environmental Protection, the agency Krancer heads.
August 2, 2012 |
After four years of rapid growth, Marcellus Shale gas drilling has slowed. As The Inquirer reported last month, the number of drilling rigs in Pennsylvania has fallen 29 percent from a year ago. State data show the number of Marcellus wells drilled in July was 57 percent lower than in the same period last year. Gas production in the Marcellus and other shale basins got ahead of demand, depressing prices to unprofitable levels. "We are all losing our shirts today," Rex Tillerson, the CEO of Exxon Mobil, said recently.