Pennsylvania's gain vs. New York's missed opportunity

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tull66
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2011/07/27 11:26:18 (permalink)

Pennsylvania's gain vs. New York's missed opportunity

If ya snooze, ya lose.

http://online.wsj.com/article/SB10001424052702303678704576442053700739990.html?mod=rss_opinion_main

Absolute power corrupts absolutely. The closer we adhere to the Holy Bible and the US Constitution (as it was written) the closer we get to the model that made America great. The great American experiment worked, human nature just got in the way.
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    Esox_Hunter
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 12:09:16 (permalink)
    What did NY lose?  Will the gas locked in the Marcellus formations lying beneath NY disappear if they do not extract it immediately?
     
     
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    tull66
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 12:29:34 (permalink)

    ORIGINAL: Esox_Hunter

    What did NY lose?  Will the gas locked in the Marcellus formations lying beneath NY disappear if they do not extract it immediately?


    It lost local high-paying jobs at a time when jobs are scarce. It lost billions in economic benefits, and billions in tax revenue. Did you read the article?

    Absolute power corrupts absolutely. The closer we adhere to the Holy Bible and the US Constitution (as it was written) the closer we get to the model that made America great. The great American experiment worked, human nature just got in the way.
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    tull66
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 12:34:11 (permalink)
    "Such bows toward the obsessions of rich, big-city greens explain why parts of upstate New York are the new Appalachia.

    As they look across their northern border, Pennsylvanians can be forgiven for thinking of New Yorkers the way Abba Eban once described the Palestinians: They never miss an opportunity to miss an opportunity."

    Absolute power corrupts absolutely. The closer we adhere to the Holy Bible and the US Constitution (as it was written) the closer we get to the model that made America great. The great American experiment worked, human nature just got in the way.
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    retired guy
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 12:53:26 (permalink)
       Hey Tull, weren't there some lawsuits in NY or someplace about the chemical they use to extract the product from shale getting into folks wells and raising havoc?
      As I'm up in NY so often get a little doubtful as to where I read stuff but believe it to have been in the NY papers.
       Naturally the Companies doing the extracting said NO NO NO but the Court decisions laid it directly on them as I recall.
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    Esox_Hunter
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 12:55:04 (permalink)
    They didn't "lose" any jobs because the resource is still there and when the commence drilling the jobs will still be there too.  If anything they stand to gain by holding out for a few years as technology and regulation continue to improve as a result of PA's drilling. 
     
    Besides, with the current, saturated natural gas market more supply will only mean more gas sent overseas.  I really don't see the rush. 
     
     
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    tull66
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 13:13:49 (permalink)


    If we ever come out of this depression, those high paying jobs are less valuable than they are now. When PA started extracting, gas was selling for double what it is now. NY has already lost billion$ and counting, if/when they begin drilling, it might not even be economically feasable to extract it. A bird in the hand is worth 2 in the bush. Or...ya snooze, ya lose.

    Absolute power corrupts absolutely. The closer we adhere to the Holy Bible and the US Constitution (as it was written) the closer we get to the model that made America great. The great American experiment worked, human nature just got in the way.
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    Esox_Hunter
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 16:54:41 (permalink)
    There will continue to be a strong market for the NG for the foreseeable future.  With large increases anticipated in NG fired power plants, offshore shipping of compressed NG, and NG powered vehicles/equipment; it stands to reason that the market for NG will continue to maintain current levels and/or likely increase correspondingly with time.  They certainly didn't miss the ship by any means, a couple years late to the party, perhaps.

    Technology and waste management practices utilized by the industry have come a long way in just a few years.  I don't necessarily agree to the reasons why NY imposed the moratorium on drilling, but they now have the tools they need to be efficient gas producers and more importantly, environmentally responsible drillers.

    I suspect the statewide moratorium will be lifted in the very near future.  However, I also believe there will be heavy opposition waiting for the drillers from the local government level.   
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    tull66
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    RE: Pennsylvania's gain vs. New York's missed opportunity 2011/07/27 18:23:06 (permalink)
    Strike while the iron's hot.

    Absolute power corrupts absolutely. The closer we adhere to the Holy Bible and the US Constitution (as it was written) the closer we get to the model that made America great. The great American experiment worked, human nature just got in the way.
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