Risk

The administration of Ohio Gov. John Kasich is proposing to “modernize” taxes and regulations on the oil and gas industry, aiming to cut income taxes by capturing revenue from the prospective Utica Shale boom.

It is a matter of when, not if, additional testing will be done in Pavillion, WY, where the U.S. Environmental Protection Agency (EPA) has two test wells that turned up suspected chemicals tied to the hydraulic fracturing (fracking) of natural gas wells in the area. Gov. Matt Mead’s spokesperson has confirmed that additional tests are coming, but they are still not scheduled.

The impact of Marcellus Shale drilling on air quality is shaping up to be a major issue this year.

Tapping shale natural gas reserves — even when accounting for the challenges of hydraulic fracturing — is worth the risk, a majority of those polled told a recent survey. And eight out of 10 respondents said they link natural gas development with job creation and economic revival.

Tapping shale natural gas reserves — even when accounting for the challenges of hydraulic fracturing — is worth the risk, a majority of those polled told a recent survey. And eight out of 10 respondents said they link natural gas development with job creation and economic revival.

The Pennsylvania Department of Environmental Protection (DEP) is asking natural gas companies to provide information about air emissions from their facilities in the state.

A progressive political advocacy group said the government of British Columbia (BC) should cap annual natural gas production and end subsidies to the industry over fears that it is expanding too rapidly at the expense of air, water and power resources.

Despite a lukewarm economic recovery and a higher risk of recession, the credit quality for the U.S. oil and gas sector should remain relatively stable in 2012, according to an industry report card by Standard & Poor’s (S&P).

Despite a lukewarm economic recovery and a higher risk of recession, the credit quality for the U.S. oil and gas sector should remain relatively stable in 2012, according to an industry report card by Standard & Poor’s (S&P).