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.
August 1, 2012 |
This might be a good time to invest in the natural-gas industry, given that the commodity is extremely cheap. If you live in or near Pennsylvania, you have heard of the Marcellus Shale natural-gas discovery, which some have considered to be the Saudi Arabia of natural gas. That boom is highlighting how money can be made in this source of energy. But trading in natural gas itself isn't the way to go; commodity markets are highly volatile and can swing wildly in price, as much as 50 percent in a few days.
June 15, 2012 |
A new national study says Pennsylvania, where Marcellus Shale drilling is expanding dramatically, is expected to lead in job growth attributed to unconventional natural gas development. An industry-sponsored study by IHS Global Insight found that unconventional gas production, including shale gas development, supported more than one million jobs nationwide in 2010 and was projected to grow to nearly 1.5 million jobs by 2015. Unconventional gas production supported nearly 57,000 jobs in Pennsylvania in 2010, 13,600 of those directly, according to the study, which projected that the industry would support 111,000 jobs in the Keystone State by 2015, including 26,000 directly.