Imagine if your neighbor owned a nice big backyard – hundreds of acres that he or she purchased with hard-earned income. Now imagine that oil and natural gas was discovered a mile below that privately owned land. Most would say, “Good for them.”
In rural and western Pennsylvania, that’s exactly what happened with the Marcellus Shale. This development, largely taking place on privately owned land, is creating tens of thousands of jobs, has generated more than $2 billion in tax revenue since 2008 and is providing hope and opportunity to some of Pennsylvania’s most economically depressed regions. It’s also improving air quality and our environment.
Yet some, including this newspaper, believe that we should enact even more taxes on this growing industry. The Daily News stated in a recent editorial that, “We should move quickly to capture the value we can as soon as we can.”
Readers should know that the value of the Marcellus Shale is being “captured” by Philadelphians, and all Pennsylvanians, each and every day. It’s captured each month in more affordable PGW and PECO bills. It’s captured down in South Philadelphia where hundreds of union jobs were saved at the refineries, thanks in part to shale gas and oil development. It’s captured through the millions distributed to Philadelphia and the surrounding counties through impact fees, even though there’s not a Marcellus Shale well for more than 100 miles.
Philadelphia, like Pennsylvania, is capturing the benefits from responsible natural-gas development.
Steve Forde
Vice President, Communications & Outreach
Marcellus Shale Coalition
NOTE: Click HERE to view this letter online.
