Two recent stories (“A tax on fracking would have raised millions” and “State inflates fracking-related jobs numbers” ) deprived your readers of important facts.
First, shale development is a powerful source of job creation. While some attempt to understate this positive impact, which is revitalizing communities across Pennsylvania, a recent Manhattan Institute analysis determines that “overall U.S. employment has yet to return to its pre-recession level, but the number of oil & gas jobs has grown 40 percent since then.” President Obama’s Energy Secretary Ernest Moniz recently stated that shale is creating “economic prosperity” in Pennsylvania.
Second, despite claims, Pennsylvania has a high-tax, high-regulation business climate. According to the Fraser Institute — Canada’s independent, nonpartisan think tank — a quarter of energy officials surveyed stated that Pennsylvania’s current tax policies deter investment.
New energy taxes will reduce development and direct capital to other states or countries. Every square inch of the commonwealth is benefiting from this generational opportunity. It would be irresponsible to advance massive new energy taxes that would strike an unnecessary blow to one of our economy’s most important and promising sectors.
Our industry remains committed to working with all elected officials to responsibly maximize these shared economic, environmental and national security benefits.
Marcellus Shale Coalition
NOTE: Click HERE to view this letter online.