Several basic facts related to the revenue generated by responsible shale gas development were ignored in a recent Altoona Mirror editorial (“Shale tax needs to be implemented,” Jan. 4).
Not only does your outlet fail to mention the $630 million generated through a natural gas impact fee tax or the $2.1 billion in tax revenue since 2008; it also neglects the fact that continued responsible development of our region’s plentiful natural resources has helped employ nearly a quarter of a million hardworking Pennsylvanians.
The editorial blindly suggests that the energy industry would not be affected by a new and duplicative energy tax; when history as well as basic economic principles prove otherwise. The fact is, capital investment flows to the path of least resistance. Rigs will move to states with fewer taxes, production will fall, and all of the benefits Pennsylvanians have enjoyed over the last eight years will fade.
To be clear, tightly-regulated shale development continues to benefit communities large and small, every local taxpayer and consumer across the commonwealth. Each of Pennsylvania’s 67 counties receives funding through the Marcellus Legacy Fund; taxpayers benefit through the billions of dollars in revenue sent to Harrisburg; and sharply-reduced energy costs for families and businesses supports everyday consumers.
Massive new energy taxes would strike an unnecessary blow to our region. Our elected leaders should remain focused on enacting policies that promote economic growth, not policies that discourage investment and jeopardize these benefits.
President, Marcellus Shale Coalition
NOTE: Click HERE to view this letter online.