Economic Impact | Energy Companies | Industrywide Issues | Jobs | Pennsylvania | Processing Plants | Shell | Statewide PA
PA Gov, Lt Gov Speak Out on Shell Cracker Plant Tax Break
In brief public comments yesterday, both Pennsylvania Gov. Tom Corbett and Lt. Gov. Jim Cawley supported and defended a plan to grant Shell a 25-year, $1.7 billion tax forgiveness plan if they will build and operate an ethane cracker plant in the state. For those new to the issue, ethane is one of the chemicals that comes out of the ground from natural gas drilling. Ethane can be “cracked” or converted in ethylene, a raw material used to make plastics.
The plant that Shell proposes to build will generate some 20,000 jobs and create an economic impact of $17-$20 billion. Investing $1.7 billion to get $17-$20 billion is a no-brainer.
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On Saturday night, a B-list actor with anger management issues (who used to be A-list), Alec Baldwin, was joined by one-trick pony Josh Fox to show Josh’s masterful propaganda film, Gasland, to a small gathering at the Landmark Theatre in Syracuse, NY.
Binghamton Mayor Matt Ryan’s folly, a symbolic ban on hydraulic fracturing within the city, has now come back to bite him in the rear end. His folly will cost Binghamton City taxpayers a lot of money as the city has now been sued over their illegal ban, passed at the eleventh hour last December before Ryan was about to lose a majority of support from the Binghamton City Council in January (voters tossing out some of the all-Democrat council members in the last election).