Members of the Independent Oil & Gas Association of New York on Wednesday will gather in Albany to ask lawmakers to reject legislation that would further delay natural gas exploration in the Marcellus Shale formation.
More than 75 industry professionals will arrive from all corners of the state to share their regional stories of economic hardship and describe the tremendous economic opportunity facing New York.
Additionally, the delegation will ask lawmakers to reject a proposed second production – or severance – tax on the natural gas industry. The tax could put thousands of low-volume producing wells across New York out of operation. The industry, which already pays an ad valorem tax, believes the tax is poorly timed, will inhibit future natural gas exploration, and exclusively affect Upstate New York communities.
Producers would not be the only victims. If these companies fail, state and local governments would lose property taxes, landowners would lose royalty payments and companies would be forced to lay off workers.
WHO: IOGA of NY Members
WHAT: Legislative Visits
WHEN: Wednesday, March 10, 2010
Having lived in Sullivan county since 1950, the county has gone from small dairy farms and borsch belt a resort economy to neither one. I left the county in 1979 to search for steady employment, and found it in Midland,Tx.
This city has the highest number of millionaires in America
from oil and gas production and a none existant unemployment rate. The word in the local industry is that
the northeast stands to become the next West Texas. Why do you think nay sayers like Calvin Tillman of tiny Dish
Texas,are trying to put the scare in, up in New York?