Natural-Gas Tax Receipts Overly Optimistic, Industry Says

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Pennsylvania Gov. Edward Rendell's proposed natural-gas extraction tax would raise only a portion of the amount estimated by the state Office of the Budget, natural gas industry officials say.

"His numbers are off by a factor of four," an industry spokesman said. "Sure, there's a lot of activity in exploration, leasing land, but the level of production hasn't followed quite yet."

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Published In: Energy & Utilities Updates, Tax Updates, Zoning, Planning & Land Use Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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