Gas drillers wrangle over NY limitations, bans
Source: Associated Press
Gas drillers wrangle over NY limitations, bans
By MARY ESCH
updated 5/12/2012 2:32:30 PM ET
ALBANY, N.Y. — With all the restrictions in proposed state regulations and local bans, gas companies say about half of their lease holdings in the lucrative Marcellus Shale region in New York state will be off-limits or inaccessible to drilling if the state gives the green light to developers this year.
A coalition of environmental groups is pushing for a complete ban on shale gas drilling, but the industry and landowners hoping to lease to drillers are working to lift some of the restrictions and halt the movement toward local bans.
"Industry estimates that when you look at the cumulative effect of prohibitions and setbacks, 40 to 60 percent of their leasehold is effectively undevelopable," said Tom West, an Albany lawyer representing gas companies.
The Marcellus is a gas-rich shale deposit thousands of feet underground in parts of Pennsylvania, New York, Ohio and West Virginia. It's estimated to contain 84 trillion cubic feet of recoverable natural gas, enough to supply the nation's gas-burning electrical plants for 11 years.
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Read more: http://www.msnbc.msn.com/id/47398921/ns/business-oil_and_energy/
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