Falling natural gas prices may slow fracking issue in New York

“Has New York missed the gas-drilling boom?”

The Poughkeepsie Journal reports:

Close to four years of regulatory review and a de facto moratorium later, New York’s portion of the Marcellus remains untapped by high-volume hydraulic fracturing. Now, natural-gas giants like Chesapeake Energy and Consol Energy are pulling back on shale-gas drilling in other states and focusing on so-called “wet gas” not found in New York. It’s largely because natural-gas prices have dropped to lows not seen since 2002.

It all raises the question: Has New York missed the gas-drilling boom?..

Read the entire report.

One thought on “Falling natural gas prices may slow fracking issue in New York”

  1. My uncle once told me that what the government bans, the government cannot tax.
    New York has shot themselves in the foot with this one. I am not sure about ‘peak oil’, but the Laffer Curve definitely has a peak – the point of Diminishing Returns – beyond which *everything* goes downhill.
    They will not get the jobs, the revenues, or the taxes from the natural gas production. The gas will lie there producing nothing for anybody’s benefit until a more enlightened government steps up.

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