Epiphany: Lower Taxes, Less Regulation Equal More Shale Drilling

Finally! Somebody “gets it” when it comes to the issue of taxing and regulating the shale drilling industry. John Hanger, the former Secretary of the PA Dept. of Environmental Protection (DEP) under Ed Rendell, toes the liberal Democrat line that PA should jack up shale drilling taxes sky high and increase burdensome regulations in PA (see Hanger, O-R Support Redistribution of Drilling Wealth in PA). Hanger is running for the Democrat nomination for PA governor. Sadly, he is a frequent Obama apologist and his proposed policies would plunge PA back into the huge budget deficits that current Gov. Tom Corbett saved them from (with very hard choices).

However, there are government officials (besides Corbett) who understand the more you tax and regulate something, the less of it you get, and the less you tax and regulate something, the more of it you get. Pretty simple to understand, and a universal law of economics. Where do government officials understand this basic rule of economics? That would be in the country of Poland, in Eastern Europe, where Polish government officials have decided they want shale gas drilling and will eliminate all taxes on it until 2020, and they’ll lighten up on burdensome regulations as well…

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