Post by Deleted on Dec 15, 2012 12:57:40 GMT -5
I'm not a reporter for the gas industry, but I think we all have an interest in the goings on, so here are a few notes from the latest edition of Northeast Driller.
Of particular interest to people in my area is the recently release breakdown of “impact fees.”
My county, (Bradford), received the most of any county --- 8.4 million from the fees charged in 2012.
When I pressed Rep. Tina pickett I was told that these fees would go for infrastructure, emergency responders equipment, highway and bridge improvement and --- things directly related to natural gas – caused needs in the region.
1. “But” in the very first County Commissioners meeting to discuss distribution, a retired commissioner spoke to request that “the bulk of the 8.4 million” go into reserve for --- “to ensure that our, (Commissioners), retirement remains equitable.” Whoaaaaa!
Commissioners did respond in the negative, but hearts skipped some beats on that one.
Next were questions about the overall disbursement of funds.
I was a little bit surprised to learn that, Philadelphia would be getting $1.3 million and other counties with no wells; Luzerne, Schuylkill, Northumberland and Carbon would share a half million dollar booty.
But, what really makes no sense is that counties that actively passed legislation to “ban” gas exploration or processing, (Bucks and Montgomery), will receive well over a million dollars in gas generated fees! Now that stinks!
2. In that report by The Pennsylvania Independent Oil and Gas Association it's estimated that statewide of more than 10.1 billion in total economic output and 1 billion in tax revenue was generated throughout Pennsylvania in 2011.
3. A small footnote also stated that Chesapeake Energy this week donated $10,000 to the National Wild Turkey Federation for habitat enhancement and educational and scholarship efforts.
4. Two independent firms estimate Marcellus reserves are far greater than recent government published estimates. Standard and Poors and ITG Investment research say government estimates are grossly understated.
The U.S. Geologic Survey first estimated in 2002 that reserves were in the range of 2 trillion cubic feet. However, with known well production and further exploration, they now estimate reserves at or around 84 trillion!
Other estimates run as high as 330 trillion cubic feet --- more than double the size of the next largest field in the nation!
5. On the environmental front. Mike Krancer, PA DEP Secretary, stated; “there has been a downward trend in airborne pollutants across the state in the last 10 years.”
Our nations Carbon Dioxide emissions have fallen to their lowest levels in 20 years! Government officials say that use of natural gas has been the biggest factor in this amazing turn around.
6. I forgot a big one---UGI and Columbia Gas both noted that the price to consumers for natural gas is about 25% lower than it was in 1991 and 40% lower than it was just four years ago.
Of particular interest to people in my area is the recently release breakdown of “impact fees.”
My county, (Bradford), received the most of any county --- 8.4 million from the fees charged in 2012.
When I pressed Rep. Tina pickett I was told that these fees would go for infrastructure, emergency responders equipment, highway and bridge improvement and --- things directly related to natural gas – caused needs in the region.
1. “But” in the very first County Commissioners meeting to discuss distribution, a retired commissioner spoke to request that “the bulk of the 8.4 million” go into reserve for --- “to ensure that our, (Commissioners), retirement remains equitable.” Whoaaaaa!
Commissioners did respond in the negative, but hearts skipped some beats on that one.
Next were questions about the overall disbursement of funds.
I was a little bit surprised to learn that, Philadelphia would be getting $1.3 million and other counties with no wells; Luzerne, Schuylkill, Northumberland and Carbon would share a half million dollar booty.
But, what really makes no sense is that counties that actively passed legislation to “ban” gas exploration or processing, (Bucks and Montgomery), will receive well over a million dollars in gas generated fees! Now that stinks!
2. In that report by The Pennsylvania Independent Oil and Gas Association it's estimated that statewide of more than 10.1 billion in total economic output and 1 billion in tax revenue was generated throughout Pennsylvania in 2011.
3. A small footnote also stated that Chesapeake Energy this week donated $10,000 to the National Wild Turkey Federation for habitat enhancement and educational and scholarship efforts.
4. Two independent firms estimate Marcellus reserves are far greater than recent government published estimates. Standard and Poors and ITG Investment research say government estimates are grossly understated.
The U.S. Geologic Survey first estimated in 2002 that reserves were in the range of 2 trillion cubic feet. However, with known well production and further exploration, they now estimate reserves at or around 84 trillion!
Other estimates run as high as 330 trillion cubic feet --- more than double the size of the next largest field in the nation!
5. On the environmental front. Mike Krancer, PA DEP Secretary, stated; “there has been a downward trend in airborne pollutants across the state in the last 10 years.”
Our nations Carbon Dioxide emissions have fallen to their lowest levels in 20 years! Government officials say that use of natural gas has been the biggest factor in this amazing turn around.
6. I forgot a big one---UGI and Columbia Gas both noted that the price to consumers for natural gas is about 25% lower than it was in 1991 and 40% lower than it was just four years ago.
