|The (un)Economics of Fracking New York
by CHIP NORTHRUP on JANUARY 23, 2014
New York Senate forum to address the likely economic impacts of fracking in New York. If it is ever allowed. And if any frackers bother to show up. The DEC has based its economic impact analysis on reserve estimates that were a bit overstated. They took those reserve estimates and used them to project what that would mean in terms of jobs and taxes in New York. And those projections became part of the dSGEIS and the fracking folklore about what fracking would do for Upstate.
Catch is that it was all hogwash. New York became the World Capital of Shale Hype. No one in the industry ever believed it, they just paid their PR crews to broadcast it.
Senator Avella is hosting a forum in Albany to delve into how the DEC overstated reserves by 100X, who was responsible for overstating reserves, and who took those estimates and proceeded to come up with job estimates that was a complete Fracking Fairy Tale – ready for the press to report and fracking lobbyists to trot out to elected officials.
The DEC will be invited to explain how their Marcellus shale gas reserve estimates are triple the shale gas reserves estimated for the entire Marcellus formation in New York, Pennsylvania, Ohio and W. Virginia.
January 23, 2014
Senator Tony Avella will be hosting a Public Forum on the “Economic Realities of Hydrofracking” on Tuesday, February 4th @ 12:00 pm in Hearing Room A of the Legislative Office Building, Albany.
Among those invited are a panel of speakers who will testify about the shale gas reserves in the Marcellus Shale regions of New York, economists, real estate experts, banking and insurance representatives as well as the Department of Environmental Conservation and the Department of Health.
Senator Avella encourages you to attend the forum to hear important testimony about the actual economic impacts of hydrofracking in states like Pennsylvania and what those impacts would be were hydrofracking allowed in New York State.
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