Public Policy Institute Report Affirms Benefits of Natural Gas Exploration

ALBANY, NY (07/14/2011)(readMedia)-- "Today's report from the Public Policy Institute of New York State is more evidence that New York must move forward with safe and environmentally responsible natural gas exploration in the Southern Tier.

The time has come to allow New Yorkers, municipalities and, indeed, the entire state to benefit from our tremendous natural gas resources. New York has 14,000 active natural gas and oil wells. The report shows that adding 500 natural gas wells per year will result in at least 62,620 direct and indirect jobs.

One well alone, in the Town of Owego in Tioga County, could produce $345,025 in town, county and school taxes. Factor in the assurances provided by New York's strict regulatory environment, along with the industry's stellar record in New York, and it is absolutely clear that the state must not forego this remarkable opportunity."

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IOGA of NY, representing nearly 400 individuals and companies engaged in the oil and natural gas industry, promotes the common interests of its members who represent all industry sectors. IOGA of NY members are committed to operating safely, efficiently and with great care and stewardship on behalf of the state's natural resources. IOGA of NY and its members strive to educate the public about the positive impacts the oil and gas industry has had – and will continue to have – on New York's economy and quality of life.

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Posted Thursday July 14, 2011 at 02:51 pm by Independent Oil and Gas Association of New York