Skip to comments.NC Senate Moves Closer to Opening Up State's Energy Resources
Posted on 06/21/2012 7:42:52 AM PDT by 92nina
A bill which would legalize hydraulic fracturinga practice that has been used to extract natural gas for decadeswas passed by North Carolinas House last week. The Senate previously approved a different version of the legislation than the one passed by the House. The updated version is pending approval by the Senate tomorrow. Senate Bill 820, titled the Clean Energy and Economic Security Act, would sanction the use of hydraulic fracturing by mid-2014, consequently lowering energy costs across the state and creating a plethora of new jobs for North Carolinians.
Currently the oil and natural gas industry supports 135,165 well-paying jobs in North Carolina and has the potential to create many more if hydraulic fracturing and horizontal drilling are legalized. The average salary for non-gas station oil and natural gas employees is nearly $6,000 higher than the average annual salary across all industries in North Carolina. And, in total, the industry also contributes $11 million to the states economy. One look at these figures and it is no surprise that a March 2012 poll found 75 percent of North Carolina voters are in favor of the further development of U.S. oil and natural gas resources.
To understand how the states economy could benefit from hydraulic fracturing, North Carolinians should look to Texas and Pennsylvanias experiences with this form of natural gas extraction. Mario Hernandez, president of the San Antonio Economic Development Foundation, conducted a study to measure the economic impact and projections of Eagle Ford Shale development. According to the study, the economic impact of this development was $20 billion in 2011with the possibility of reaching $96 billion in the next decade. Additionally, the new industry created tens of thousands of jobs for Texans38,000 in 2011. The study projects that by 2021 the Eagle Ford Shale will support more than 82,000 jobs. In Pennsylvania, utilization of hydraulic fracturing has generated more than $7 billion in taxes, royalties, lease payments, and fees in the state over the past five years.
If SB 820 passes the Senate, ATR encourages Gov. Perdue to ignore the fringe of the Democrat party and approve this much-needed legislation. The energy industry has been boon to the NC economy and could create even more jobs in the Tar Heel State if this bill is signed into law.
Read more: http://atr.org/nc-senate-moves-closer-opening-up-a6980#ixzz1yRHHLbYe
It will happen in January when she is gone.
Of course, it's timed for AFTER 0bama's re-election, since he's going to shut down fracking NATIONWIDE with an executive order as soon as he's re-immaculated.
The NC Senate is eat up with RINOs and limousine liberals. Bunch of commies won't even pass a restaurant carry bill. No respect for the Constitution (federal or state) at all.
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