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The Amazing Coudersport Ice Mine

The Amazing Coudersport Ice Mine

Tuesday, May 26, 2009

Rendell Still Considering Natural Gas Extraction Tax

Rendell eyes tax on natural gas wells
Levy could generate over $100 million
Monday, May 25, 2009

HARRISBURG -- Faced with a revenue shortfall of $3 billion or more, Gov. Ed Rendell is searching for every shekel he can get.

So he's come up with an idea that would be new for Pennsylvania -- imposing a "severance tax," also called an extraction tax, on the huge amount of natural gas expected to be pumped from underground areas of Marcellus shale that stretch across the state.

It would be a two-part tax: 5 percent of the market value of the natural gas at the wellhead, plus 4.7 cents per thousand cubic feet of gas extracted. For the fiscal year that starts July 1, the governor is hoping the tax will generate $107 million, although that could fluctuate because the price of gas is volatile. More...

17 comments :

Anonymous said...

All the other companys in the area that haven't closed up are already running on empty.So lets find a way to bleed the gas & oil industry dry.

Anonymous said...

In case no one has noticed, the majority of drillers have pulled out. Why drill in Pa. where thee permit fees have gone out of site, now they want to impose more taxes.
Here was an industry thhat was hiring locals to work, so yea lets run them out. so typical of this state. Rendell needs to go

Anonymous said...

Whatever tax is put on extraction, etc. will be passed on to the consumers. This is just another tax on the citizens of Pa.

Anonymous said...

This will be the final nail in the coffin for the few area companys that are still hanging on!!!!

Blake said...

Levy the tax and kiss exploration and jobs goodbye! Classic government at work here!

Anonymous said...

Could this just be another way to get them OUT of the pa wilds ???

Mrs. Vee said...

Rendell WILL bury the Commonwealth of PA on his way out!

He has had a good start at it for all most 8 years now...time for a CHANGE, don't ya think?!

Maybe you should have taken the time to talk to some of us business owners 5 years ago there big boy...Oh that's right, we do not have lobbyists or large unions you can benefit from...All most forgot!

Anonymous said...

And to think of all the new "people" Rendell had hired to handle the over load of paper work for the oil and gas permits, ya more will be unemployed, AGAIN!

Unless they are his family and friends or friends of his friends, then he will just APPOINT them to a MADE UP POSITION on OUR dime!

Anonymous said...

The worse part is that the Rendell administration will in no way allow any of these funds to be distributed to the areas where the tax is being administered... I seriously doubt that there are many wells or exploration possibilities in Philly, but I bet they will get the majority of the money that is raised by this tax, that is until the exploration companies pack up and go elsewhere and leave everyone in PA in the dust....
HEY RENDELL.... WANNA CUT THE DEFICIT? HOW ABOUT YOU AND YOUR COLLEAGUES TAKE A PAY AND EXPENSE CUT....

Little Johnny the Flatlander said...

You narrow minded people need to look at where the vast majority of the state tax money actually comes from....guess what??? It's not from Potter County!!! You should feel lucky that you are getting all of the press about the area to boost the tourist income from the PA Wilds. When I visit my camp, I want to see trees and fields, not gas and oil wells.......

Anonymous said...

gas and oil wells aren't that unsightly.

You can have a great experience here while we're contributing to our energy needs.

I hate gov't funded studies, I'll admit that. But if someone did a good study, it would be interesting to see what return on state dollars rural counties like Potter get compared to more populous areas based on what they put into the system. Because we don't have the political clout, I bet we get the short end of the stick. I maybe wrong, but I would like to see the study.

Anonymous said...

Little Johnny i don't care what you want to see when you come to your little camp !I realy don't care if you even come to your little camp at all !

Little Johnny the Flatlander said...

The really funny part is the fact that you are probably some person that lives in a small apartment and doesn't pay any taxes while I have a camp that is as big as most of your local homes with plenty of land to enjoy and I pay lot's of local property taxes. guess what??? I really don't care what you care about or don't care about.

Anonymous said...

You mean your property isn't in some sort of clean & green to get out of the taxes?Most flatlanders such as yourself either do that or post it and think you can just take advantage of other peoples land.And at last no i do not live in a small apartment i have several homes and quite a bit of land myself that is all posted to keep people like you with your know it all dumbass bragging flatlander attitude out!!

Anonymous said...

"You narrow minded people need to look at where the vast majority of the state tax money actually comes from."

AND you need to realize your city drains the state budget! Start doing the math there lil flatlander! Do not forget every new tractor trailer tire WE buy we have to pay a $2 tax each for YOUR public transportation systems. Ya, Rendell really puts the money where it is charged now doesn't he?!

Stop and think of the amount of state and federal employees your area has compared to ours.

And talk about living in a small appartment? The city is full of landlords not land owners, DUH! Oh and let us not forget the generation welfare that live in your city having baby after baby! A heck of a lot more than our area for sure...

Anonymous said...

The oil & gas industry is taxed enough in Pa. Let's leave the taxes the way there are and hopefully we'll have a lot of gas drilling here. We sure could use some increased economic activity.

Anonymous said...

"You mean your property isn't in some sort of clean & green to get out of the taxes?"

FYI...flatlander or not, you do not "get out of taxes" by having your land in clean & green!

You are taxed at full rate for your house and each building Plus 1 acre per building. You get a tax discount per acre there after. So If you own 100 acres of land have 1 house and two out buildings you are taxed full rate on 3 buildings and 3 acres, but receive a discount on the remaining 97 acres.

Now I live in Potter County and have over 150 acres of land with 1 (0ne) house only on this land in clean & green and my spring taxes alone are alittle over 2200.00 this year. And that is 450.00 more than they were 4 years ago with NO additions or improvements!
So ya we pay our taxes too!