Posted July 1, 2014
Oh, New York. As if your six-year-old moratorium on hydraulic fracturing – an unforced error that’s costing thousands of jobs and dynamic growth – isn’t bad enough for your economy, now there’s a court ruling extending the opportunity for dubious policymaking to the local level, potentially impacting state residents who can least afford it.
This week’s decision by the state Court of Appeals, that towns and municipalities may ban hydraulic fracturing within their borders, looms as a new frustrating turn for landowners. Especially those in the Southern Tier, an economically starved belt of counties along the Pennsylvania border.
It’s hard to see how energy development – that could save family farms, provide good career paths for the region’s young people and boost the regional economy – wouldn’t be chilled by the prospect of a string of localized bans. For New York property owners, the ruling could mean that economic development will continue to be something that happens in Pennsylvania, not at home.
Posted April 30, 2014
Albany Business Review: Some New York farmers, particularly those living in the state's Southern Tier, are in favor of high-volume hydraulic fracturing. Steuben County dairy farmer Terry Waters, 60, said it would "pull us out of the hole."
As farmers like Waters continue to face financial hardship due to rising costs, they are seeing their counterparts in Pennsylvania benefiting from the natural gas resources located underneath their properties.
Posted April 23, 2014
Posted April 21, 2014
Probably nowhere is the economic impact of shale energy development more dramatic than in the contrast between two neighboring states – Pennsylvania and New York. The former allows hydraulic fracturing in the energy-rich Marcellus shale belt that runs through much of the state, the latter doesn’t – even though the Marcellus continues into the Empire State and could provide a big jobs boost on its Southern Tier.
Indeed, while New York is not a top producing state, the oil and natural gas industry still is driving strong job creation and economic growth. In a PwC study, New York ranked 7th in the country in overall impact from oil and natural gas development.
Posted December 17, 2013
U.S. Energy Outlook: More Oil, More Natural Gas, Less Carbon. Yay America!
Forbes: The federal government’s Energy Information Administration is out today with an early version of its Annual Energy Outlook for 2014. Their headline finding: that the United States will continue to grow less dependent on foreign oil as the miracle of our tight oil boom adds to supply and more efficient vehicles reduce demand. Yay America!
By their reckoning, domestic crude oil production will continue its surge, adding another 800,000 barrels per day in 2014 and about the same in 2015. By 2016 we should reach 9.5 million barrels per day, approaching the historical high of 9.6 million bpd back in 1970.
The boom won’t last forever, and will level off around 2020. But when domestic oil supplies do start slipping, we won’t feel it too much at first, because our vehicles will be using a lot less fuel.
Read more: http://onforb.es/1gEiWP8
Posted August 26, 2013
Posted May 15, 2013
Washington Examiner – Fracking Could Create New Wealth for New York
In a guest column, former Department of Labor Chief Economist Diana Furchtgott-Roth discusses the opportunities hydraulic fracturing could bring to New York state. “Using the Pennsylvania data to project fracking's effect on New York counties, I find that the incomes of those who live in the 28 New York counties above the Marcellus Shale have the potential to expand by as much as 15 percent over the next four years -- if the state's moratorium is lifted.”
National Journal – Natural Gas Exports Loom Large Over Washington
NJ’s Amy Harder takes a look at the liquefied natural gas debate after a visit to Dominion’s Cove Point, Md., facility – a former import terminal waiting for federal approval to add export capabilities.
Posted May 1, 2013
Texas Tribune – Shale Boom Has Major Impact on Texas' Budget
Increased shale development in Texas has helped business surge in the Lone Star State, providing jobs not just in the industry but across the service sectors. But the most significant effect may be seen in the revenue provided to the state, according to the paper.
Press Connects.com – New York Deserves a Fracking Chance
In a guest opinion piece, Dr. Charles Carpenter points out that as the debate over hydraulic fracturing continues in the Empire State, more than 800,000 New Yorkers are currently unemployed, and since 2001 at least 1.6 million people have left the state. That’s the highest number of any state in the country – but fracking could change that.
Posted April 17, 2013
Washington Times – Is It Time to End Ethanol Vehicle Fuel mandates?
Steve Goreham recaps the pros and cons in the ethanol, Renewable Fuel Standard debate.
Press Connects – Guest Viewpoint: NY Can’t Afford to Pass on Natural Gas
In a guest piece, New York resident Bob Tiberio writes that affordable energy “is the lifeblood of our economy and lowers the cost of almost everything we make and use. It drives economic growth and gives the United States a competitive edge in global markets. For most Americans, a high “quality of life” begins with low cost energy, which increasingly means natural gas from shale.”
Posted April 17, 2013
You can’t help but feel empathy for New York state residents, struggling with high unemployment and low economic growth. Ads touting the “new” New York’s open-for-business attitude are airing nationally, trying to encourage new start-ups and to convince enterprises from other states to relocate in the Empire State.
Yet, the potential for dynamic economic growth and robust job creation is right under New Yorkers’ feet. The state’s Southern Tier counties sit atop the natural gas-rich Marcellus Shale – the same play that has fostered boom conditions in much of Pennsylvania.