“It just kind of changed the game for all industries, including this one,” said a spokesman for a company that wants to build an ethane cracker. “And so they have had to put off their announcement of a decision.”
Unconventional drillers extracted 6.8 trillion cubic feet of natural gas last year, a more than 10 percent increase from 2018.
Democratic presidential nominee Joe Biden says he would oppose only new drilling on federal land. The Vice President touted the administration’s commitment to ‘American energy.’
The public comment period, which closed Monday, included a group of 50 institutional investors with $4 trillion in assets who issued a statement in support of the rule.
The compromise measure lowers the size of the tax break from more than $1 billion to $670 million over 25 years.
Are gas royalty owners buyers or sellers? In a court fight over royalties, the answer to that question could make all the difference to landowners
The state attorney general’s office says when someone sells drilling rights to a company, they should be covered under the consumer protection law. Drillers in the lawsuit argue the landowners aren’t buying anything — so they’re not protected consumers.
Pennsylvania collected about 20 percent less in impact fees from natural gas drillers last year than in 2018, according to the Public Utility Commission.