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Shale Gas

BUSINESS
March 5, 2012 | By Bill Dunkelberg, For The Inquirer
American entrepreneurship and ingenuity have made the United States the wealthiest economy in the world and will continue to do so in the future if it is not smothered by taxes and unproductive regulation. The boom in natural gas is another good example of this. The hydraulic-fracturing technology was invented and developed in Texas, and it is the key to unlocking the estimated 900 trillion cubic feet of shale gas available in the United States (and the estimated 6,000 trillion cubic feet globally)
NEWS
February 9, 2012 | By Angela Couloumbis and Amy Worden, Inquirer Harrisburg Bureau
HARRISBURG - Pennsylvania is a signature away from imposing a fee on natural gas extraction in the Marcellus Shale. After three years of debate and false starts, the House voted, 101-90, Wednesday to approve a compromise plan for a "local impact fee" on natural gas drillers. With the Senate's approval in hand, the measure goes to Gov. Corbett, who said he would sign it. "This legislation reaffirms our strong commitment to safe and responsible natural gas development here in Pennsylvania," Corbett said in a statement minutes after the House vote Wednesday afternoon.
NEWS
February 8, 2012
Natural gas companies drilling in Pennsylvania's Marcellus shale region accumulated 3,355 violations in the four years from 2008 through 2011, according to an analysis released Wednesday by the nonprofit organization, PennEnvironment. More than 70 percent of the violations likely posed a direct threat to the environment, as opposed to violations that involved filing deadlines or paperwork, for instance, the organization said. It identified the operators with the most violations as Cabot Oil and Gas Corp.
NEWS
February 7, 2012
By Nicolas Loris President Obama has been on a kick to promote natural-gas production. Unfortunately, he seems to think the key to doing this is more government involvement. "It was public research dollars, over the course of 30 years, that helped develop the technologies to extract all this natural gas out of shale rock," he said in his State of the Union address last month, "reminding us that government support is critical in helping businesses get new energy ideas off the ground.
NEWS
February 6, 2012 | By Angela Couloumbis, Inquirer Harrisburg Bureau
HARRISBURG - After months of wrangling behind closed doors, Gov. Corbett and Republicans who hold the majority in both legislative chambers have reached a tentative agreement to impose a fee on the extraction of natural gas from the Marcellus Shale. The so-called "local impact fee," which could be voted on as early as this week, would fluctuate depending on the price of natural gas and, starting in 2013, on the rate of inflation, according to a summary circulated to Republican senators during the weekend.
BUSINESS
February 1, 2012 | By Andrew Maykuth, Inquirer Staff Writer
In the latest salvo over Marcellus Shale gas drilling in the embattled town of Dimock, a natural gas company on Tuesday alleged that federal regulators had cherry-picked old test data to distort the amount of contamination in drinking-water wells. Cabot Oil & Gas Co., whose drilling was blamed for the pollution, said that the drinking-water tests the Environmental Protection Agency used to justify its Jan. 19 order to deliver fresh water supplies to four Dimock houses "do not accurately represent the water quality" and are inconsistent with the body of data collected at the residences.
BUSINESS
January 24, 2012
In the Region Judge OKs plan for TH Properties Chief U.S. Bankruptcy Court Judge Stephen Raslavich approved a reorganization plan for TH Properties , the Harleysville home builder that filed for Chapter 11 bankruptcy protection in April 2009. TH Properties will complete construction of two phases of the Northgate development in Upper Hanover Township and the Wynstone project in New Hanover Township, both in Montgomery County and owned by brothers Timothy and Todd Hendricks, who founded TH Properties in 1992.
NEWS
January 23, 2012
Natural gas futures soared by 7.8 percent Monday after Chesapeake Energy Corp. announced it would dramatically reduce drilling in Pennsylvania's Marcellus Shale and in other gas-producing areas. The announcement came after natural gas prices have plummeted in the last month because of an oversupply, caused by warm weather and enormous shale-gas production. The share prices of natural gas producers also soared Monday on the prospect of greater profits from higher prices. Despite the increase, natural gas prices are still off 18 percent so far this year.
NEWS
January 23, 2012
The Energy Department on Monday cut its estimate for the amount of natural gas stored in the Marcellus Shale to 141 trillion cubic feet (TCF) from 410 TCF in last year's Annual Energy Outlook. The Energy Information Administration had promised last year to revise its estimate after the U.S. Geological Survey in August estimated the Appalachian formation contained 84 TCF. Though the U.S.G.S. estimate represented a dramatic increase from its 2002 estimate of 2 TCF, the big difference between its estimate and the Energy Department's projection caused an uproar over claims that shale-gas supporters were exaggerating its potential.
BUSINESS
January 17, 2012 | By Erin E. Arvedlund, Inquirer Columnist
We last wrote about Master Limited Partnerships in April 2011, and most of these energy investments have since posted significant run-ups in price. So is it time to sell and take some profits? Perhaps, say investors, if you think the price of energy is going to crash, and that doesn't look very likely. For instance, the price of natural gas is at historic lows, and probably can't fall much further (natural gas and oil used to be correlated in price, but that relationship has decoupled, for reasons few understand)
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