OH Gov. Kasich Signs New Drilling Law – Now, Back to Taxes

Yesterday Ohio Gov. John Kasich signed new oil and gas legislation into law that will impact shale gas drilling in his state. For a summary of what’s in the new law, see this previous MDN story. Kasich said during the signing ceremony: "We were not going to develop shale gas at the expense of the environment...we have contained in this bill the most aggressive, clearest, fairest and strongest fracking regulations that you can find anywhere in the country." He later claimed that Ohio’s new law is, “the toughest law on fracking fluid in America.”

What happens next? Kasich has promised to return to pushing his plan to tax the shale drilling industry and pass along the proceeds as a small income tax cut to Ohioans:

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