How much do Pennsylvania landowners stand to gain from the development of the Marcellus Shale? In a recent article, FBR Capital Markets said that $1.8 Billion was paid by gas companies to Pennsylvania landowners in 2009, and an expected $250 Billion would be paid to Pennsylvania landowners over time from the development of the Marcellus Shale.
I am one of the attorneys in Pennsylvania that represents parties that treat/recycle/dispose frac water and drill cuttings arising from the development of the Marcellus Shale. In that regard, I very much appreciate the work done by the Marcellus Shale Coalition to combat the misinformation that now litters the information superhighway. There was a "sky is falling" article written in the New York Times on 2/27/11 which made it sound like PADEP did nothing to regulate oil and gas companies, and, as a result, we were all going to die. The article did a disservice to the people at PADEP that take their obligations to regulate the Marcellus Shale very seriously. It also did a disservice to the oil and gas companies that play by the rules and all of the ancillary businesses in Pennsylvania that provide services to the Marcellus Shale industry, like those that treat, recycle and dispose frac water and drill cuttings in a responsible way. Here is a press release issued by the Marcellus Shale Coalition in response to the NYT' s article. It is worth reading because it includes actual facts to counter the misinformation. This industry is vitally important to economic growth in Pennsylvania. How many companies are running to Pennsylvania to open up new factories? Over my years as a practicing attorney, I have seen lots of companies leave Pennsylvania for a better business climate in Texas and places south, and its nice to see some of those Texas companies coming up here for a change. We could use the jobs and economic development. Also, as for the insinuations made by the NYT's article that PA isn't capable of regulating this industry, I say that's baloney. PADEP is a highly professional organization that is fully capable of regulating this industry. Rather than say the sky is falling, all the Chicken Littles out there should come to Pennsylvania and see for themselves what PADEP is actually doing.
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