Marcellus Shale Update

Steve Mohr returned to our club with an update on issues surrounding The Marcellus Shale gas discoveries.  Steve explained the effects of Act 13 of 2012.  The act resulted in the collection of impact fees from Marcellus Shale projects.  In 2013 $225 + million was collected.  The revenue went to State Agencies (20 million), Local Municipalities (123 million), and the Marcellus Legacy fund (82 million).   As soon as the act was passed 20 rigs pulled out of PA.  Each rig provided 400 Jobs.  Steve is concerned that any new taxes would replace the impact fee and chase more rigs out of PA.. Stay tuned for more visits from Steve with updates after he visits with Governor Elect Wolf..