Energy in Depth: Today’s News
NWLANews.com: It is Just that Huge!; Haynesville Shale Economic Impact Could Mean Billions. NWLA News writes on the Louisiana Department of Natural Resources study showing the potential economic benefits of developing the Haynesville Shale. “The report estimates that…extraction activity…generated approximately $2.4 billion in new business sales within the state of Louisiana last year. New business sales in turn created new household earnings of close to $3.9 billion for state residents. This estimate includes both direct and indirect earnings and includes almost $3.2 billion in lease and royalty payments to private landowners…The job multiplier is remarkably large in this case due to the fact that $3.2 billion in lease and royalty payments were injected into the state’s economy by the extraction firms. The conservative estimate is state and local tax revenues increased by at least $153.3 million in 2008 due to the extraction activities in the Haynesville Shale.”
Williamsport Sun-Gazette: Misinformation About Pine Creek Water Drawdown Brings Big Crowd. “More than 100 people turned out for a hastily called meeting Monday with representatives of the Susquehanna River Basin Commission as the result of a headline in a Tioga County newspaper last week indicating that three quarters of the water in Pine Creek was going to be drawn out for natural gas exploration.” The actual amount being drawn out is actually less than 0.25 of 1 percent of the water that flows through the creek.
Shreveport Times: Caddo May Hire Stimulus Experts, Lease More Property for Drilling. The Caddo Commission may lease about 500 more acres of public property for oil and gas drilling, with a final decision coming as early as June. “Commissioners, who are mulling proposed parish and state drilling regulations in response to harvesting the Haynesville Shale’s resources, moved the lease item onto the voting agenda with no discussion. Most of the land is roads and rights of way in southwest Caddo, parish Public Works Director Robert Glass said.”
