Drill Bits: Corbett “Still Reading” Report, Dermody Keeps Pushing For Severance Tax, And EPA Proposes Tougher Air Quality Standards
Corbett: ‘Still reading’ shale report Yesterday, we reported Governor Corbett won’t formally address his commission’s report until next month. His first public comment backs that up — Corbett told a Post-Gazette reporter he’s “still reading” the 137-page document. (earlyreturns.sites.post-gazette.com)
House Dem leader keeps pushing for a broader severance tax “You live in an area that was decimated by the coal industry. We still have acid mine drainage, we still have mine problems,” he said while discussing his support of a natural gas extraction tax on the Marcellus Shale drilling industry. In House Bill 1800, dubbed the Protect PA bill, gas producers would be required to pay 30 cents per 1,000 cubic feet of gas extracted, with an adjustment mechanism if gas prices rise more than 5 percent annually. It includes a tax credit for companies that create jobs for Pennsylvanians. (Wilkes-Barre Weekender)
EPA proposes stricter standards for drilling emissions The EPA today proposed rules that for the first time seek to make sure that natural gas truly cuts greenhouse gas emissions. Today, the EPA proposed standards that aim to cut smog-forming volatile organic compound (VOC) emissions from several types of processes and equipment used in the oil and gas industry, including a 95 percent reduction of emissions from new and modified fracked wells. It would require that producers capture the natural gas that currently escapes to the air and make that gas available for sale. So-called “green completion” technologies are already in use by several companies and required in some states, the EPA noted. Methane actually would be reduced as a side benefit of the rule’s primary aim, reduction of smog-forming VOCs. Toxic air pollutants such as benzene also would be cut. (greatenergychallengeblog.com)
Loan Guarantees For Nuclear Plants Evaporate Federal loan guarantees for new nuclear power will be increasingly difficult to obtain, the head of the Nuclear Energy Institute says, limiting development of new plants over the next decade to those states that permit costs to be passed through directly to customers. (energy.aol.com)