The Marcellus and Utica Shale industry, like all shale industries in the U.S., is getting clobbered. Prices are at historic lows for natural gas–with no prospects it will go higher anytime soon (see Natural Gas Prices Hits 14-Year Low – When Will it Rebound?). Drillers (otherwise known as producers or E&Ps) can’t make a profit. Those who are making a profit are realizing profits that are razor thin–like break-even. So what does a “brilliant” politician like Ohio State Rep. Jack Cera (Democrat) lobby and advocate and agitate for? Raising the severance tax on shale drillers in Ohio. How utterly dense can you possibly be to not see that doing such a thing in this low-price climate would essentially shut down the Utica industry in the state? Or perhaps that’s what Jack really wants?…
