More than 600 supporters of expanded natural gas drilling in New York marched to the west side of the Capitol Oct. 15 in protest of the state's current moratorium on high-volume horizontal hydraulic fracturing.
Across America's widening energy landscape, the economic impacts of unconventional oil and natural gas are increasingly discernible. These effects are visible within the energy value chain and are extending into the broader reaches of the US economy. The focus of this research series is to assess the evolving economic contributions of unconventional oil and natural gas development activity. This study seeks to quantify how unconventional activity creates economic value in the broader economy through an examination of the exploration and production activity.
Many observers, especially those in the political mainstream, are waiting to see if the governor is so easily influenced by a politically important minority that he is willing to forgo an entire industry that will benefit large swaths of New York and its neediest residents. While national politicians have a knack for pandering, very few have turned down the levels of economic activity that hydraulic fracturing is expected to provide.
Several hundred supporters of hydraulic fracturing marched outside of the state Capitol on Monday in an attempt to dial up pressure on Gov. Andrew Cuomo. A host of landowner groups and representatives from the natural-gas and construction industries joined Southern Tier elected officials at the rally. Most expressed their displeasure with a recently announced delay to a decision on whether to allow high-volume hydrofracking to proceed in New York.
U.S. natural gas prices escaped a rout this summer as record heat helped reduce towering inventory levels. This winter, fierce cold will be needed to help absorb the newest barrage of supply that will again test the limits of an over-supplied market.
New York Governor Andrew Cuomo fancies himself Presidential material, but he isn't helping his 2016 credentials with his pusillanimity on natural gas fracking.
Studies vary widely on how many jobs oil and natural-gas drilling will bring to eastern Ohio and western Pennsylvania. "It only takes a small assumption to create a result that is much higher or lower," said Matthew Rousu, associate professor of economics at Susquehanna University in Selinsgrove, Pa., and creator of a website designed to evaluate such studies.
The New York Daily News editorial board comes out in opposition to calls by some New York state officials to explore an alleged link between hydraulic fracturing and syphilis.
Manufacturers and drillers have been warring over exports for more than a year, but many industry analysts say exporting is inevitable.
The boom in natural gas production that has pushed prices below $2 per thousand cubic feet back in April has planted the seed for a huge correction the other way.