Pennsylvania has a power-house legacy from the first
commercial oil well at Titusville to its unrivaled coal reserves and now to the
natural gas locked in the Marcellus Shale formation. Though oil and coal
production have largely fallen by the wayside, Pennsylvania possesses so much
natural gas under its mountains that it has been named the Saudi Arabia of
natural gas.
Saudi Arabia holds by far the largest proven reserves and
speculated petroleum (oil) resources under its sandy landscapes. A member of
the Organization of Petroleum Exporting Countries (OPEC), it takes the leading
role in policy and production decisions within the group.
Meanwhile, the Keystone State of Pennsylvania has grappled
with its emergent role as global leader in proven natural gas reserves and
production potential. The debate within the state has centered on imposing
higher taxes on extracting companies, so that they may be more properly
regulated in their activities, and the free market approach which proponents
argue will attract more drillers to the state.
The controversy lays in the extraction method called “hydraulic
fracturing,” or more commonly referred to as “fracking.” The process involves
blasting water and a mixture of chemicals deep underground to fracture or frack the natural gas from the shale
rock formation. The current governor, Democrat Tom Wolf has been a strong
advocate for greater regulation and revenue for the state through taxing the
companies, while the Republican majority in both houses of Pennsylvania’s
legislature contend that such taxation would discourage the companies from
doing business in the state.
Below is a video on the fracking process. It is available on
YouTube, and it comes from the Pennsylvania Department of Environmental
Protection.
As usual, thank you for reading. See you on the 15th!
