PA Rep’s Economic Illiteracy On Display re Severance Tax
We have to wonder, is PA State Rep. Rosita C. Youngblood (Democrat from Philadelphia) actually brain dead? At a minimum she’s an economic ignoramus, understanding 0% about economics and business and what it takes to make a successful business. Youngblood had the temerity (stupidity?) to write an editorial for the Philadelphia Weekly Press in which she says casinos in the state are taxed 55% of all money that passes through their hands, and therefore a measly 5% (or even 10%) severance tax on shale drilling is peanuts. Uh, Ms. Youngblood, have you ever heard of the concept of risk in business? Or profit?… Read More “PA Rep’s Economic Illiteracy On Display re Severance Tax”

A word of warning to all of you anti-drillers who are “back to the land” types–Obama’s EPA is coming for you next. Your own environmental extremism will soon turn around and bite you on the backside. The rogue federal Environmental Protection Agency, since 2009, has targeted fracking and the oil and industry any which way it can, attempting to usurp state regulation (see
New condensate processing is on the way later this year from Ergon, Inc.–a company headquartered in Mississippi but with refineries and processing facilities in Ohio and West Virginia (and operations that include western Pennsylvania, Kentucky and New York). Ergon announced yesterday the company has spent over $75 million in the past two years to upgrade facilities, and continues to spend. Coming later this year is a 10,000 barrel per day condensate stabilization facility in Marietta, OH. Coming next year, the same kind of facility (also 10,000 bbl/d) in Newell, WV…