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Consider Economic Impact of New Tax

March 3, 2013

If Ohio Go....

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impact

Mar-03-13 12:40 PM

Of course it will dampen their enthusiasm. Tough! All states that are blessed with this gift should be compensated to its removal and use. We only get one shot, and then its gone.

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oldsteelmaker

Mar-04-13 3:31 PM

The question is what are the other states doing. There is so much drilling being done that if you put too much extra cost on the companies, they will go elsewhere now, and drill here once the easier sites are used up.

BTW, have you heard about the new tax on medical treatments? YOU will have an additional charge on any bills sometime soon, to help pay for that "free" obiecare.

Fine print, gotta read the fine print.

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oldsteelmaker

Mar-04-13 3:37 PM

Texas has been seeing an explosion of drilling and production in the south end of the state, an area called Eagle Ford. Production figures are near the boom years of the 1970s already. Now they have started rechecking the old fields in West Texas, and finding there are new layers under the played-out aress, and there is more gas and oil there than they dreamed of. In addition, using fracking they can redrill the old fields and get as much or more than they pulled out the first time.

Dawg, the estimates are just in Texas we will be drilling for decades before they come close to running out. And the industry press is talking about finds in the Baltics, Poland and other energy giants. Peak oil, huh?

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