API-PA: Shale Energy Production Generating Huge Revenues for Pennsylvania
The Associated Petroleum Industries of Pennsylvania (API-PA), a division of the American Petroleum Institute, welcomed the Pennsylvania Public Utility Commission’s (PUC) announcement that more than $224 million will be distributed to local communities through the fees paid by natural gas producers under Act 13.
“Shale energy production is generating huge revenues for Pennsylvania – in addition to driving job growth,” said Stephanie Catarino Wissman, executive director, API-PA. “Pennsylvania has collected more than $220 million dollars from shale development fees for 2013 production. That translates into better roads, better housing, and better services for families and communities across the state.”
Under Act 13 of 2012, natural gas producers are required to pay a local impact fee which is deposited into the Unconventional Gas Well Fund. More than $630 million has been collected from 2012-2014, according to the PUC. These revenues have supported housing initiatives, highway and bridge improvements, and environmental programs.
“Shale energy development, made possible by hydraulic fracturing, has transformed Pennsylvania’s economic future,” said Wissman. “The oil and natural gas industry is investing in communities, providing new revenue for the government and delivering a long-term path to new jobs for Pennsylvania workers. With the right policies moving forward, energy development will mean good news for the commonwealth for many years to come.”