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Gold/Mining/Energy : Shale Natural Gas, Oil and NGLs and ESA
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To: DinoNavarre who wrote (6141)1/27/2016 6:24:03 PM
From: isopatch1 Recommendation

Recommended By
DinoNavarre

   of 6160
 
Will this proposed tax cut pass both houses of the WV legislature? Dunno. Should get more details, and a more informed appraisal of its chances from my Feb IOGA newsletter, due in about a week
(excerpt below)

<January 23, 2016 at 11:36am

One week ago, West Virginia Governor Earl Ray Tomblin delivered his State of the State Address to highlight key pieces of legislation and what he identified as his top priorities. Everything from economic development to education is covered (you can read his full address here) including a section on what he calls fiscal responsibility.

The Governor specifically indicates his desire to reduce West Virginia’s severance tax rates on the natural gas industry to “[provide] much-needed relief for energy businesses struggling with low prices.”

Given current market prices for natural gas and natural gas liquids, this move comes as it is most needed. With producers cutting back their budgets, the trickledown effect to supporting industries – environmental scientists, trucking, engineering firms – is being felt across the region and by the hundreds of thousands of people employed.

Just three months ago, Governor Tomblin joined forces with Governor Wolf and Ohio Governor Kasich to promote an agreement to work together and maximize the opportunities in the region thanks to the shale development. One can only hope that Governors Wolf and Kasich, their administrations and other elected leaders are taking notice of Governor Tomblin’s efforts to continue the promotion of this industry.>

http://gomarcellusshale.com/forum/topics/wv-lowers-severance-tax?xg_source=msg_mes_network
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