Shale Gas Has Positive Effects On Virgina’s Economy
Though shale gas drilling has only been taking place in the Marcellus Shale for under a decade, the industry is already contributing millions of dollars to the state of Virginia’s economy, according to an article written for West Virginia Public Broadcasting.
Coal – Virginia’s primary source of income in the energy sector – is still making the most money for the state, but natural gas is closing the gap at a very quick pace.
“The amount of money the state and counties get from natural gas severance taxes is increasing at more than twice the rate of coal severance taxes,” the article says.
Stricter regulations on carbon emissions in the state are even leading some companies to shut down their coal-fired plants in favour of gas-powered plants.
According to a federal government report, there are expected to be about 900 Marcellus wells in West Virginia by the year 2020.
Short URL: http://naturalgasforamerica.com/?p=1112
Posted by admin
on August 16th, 2010. Filed under Marcellus Shale, Shale Basins.
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