The New York State Department of Environmental Conservation
recently canceled a meeting of a drilling advisory panel because
members are still reviewing more than 40,000 comments received on
proposed fracking regulations.
Drilling in the Marcellus Shale requires the recommendations of
the advisory panel, whose members include representatives from the
energy industry, environmental groups and elected officials. An
earlier meeting between the environmental department and the
advisory panel was canceled on January 12.
The postponement marks yet another delay in New York's
efforts to permit drilling in the Marcellus Shale.
Drilling in the Marcellus Shale began in 2008 in
Pennsylvania.
"We're looking at three rules from three different
regulatory bodies," said John Holko, president of Lenape
Resources, Inc., a natural gas driller based in New York. "One
is over 1,500 pages long. They say they'll get through all this
by 2012, but realistically, we're into 2013 before we can
actually begin drilling."
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At the request of the US Department of Energy, Office of Fossil Energy, a NERA team led by Senior Vice President Dr. W. David Montgomery and Senior Consultant Dr. Sugandha Tuladhar has conducted an objective and independent study to assess the potential macroeconomic impacts on the US economy of liquefied natural gas (LNG) exports.
IRS Notice 2013-29 provides two methods for taxpayers to establish that construction of a qualified facility has begun, either by starting physical work of a significant nature or satisfying a safe harbor.
Investment worldwide in the first quarter of 2013 was $40.6bn, down 22% on a year earlier, due to a downturn in large wind and solar project financings.
Natural gas producers and landowners alike breathed a sigh of relief on April 24, 2013 as the Pennsylvania Supreme Court (the "Supreme Court" or "Court") overturned a lower court decision that questioned whether subsurface ownership rights of natural gas in shale formations should be treated differently than ownership rights of natural gas in conventional formations.
The Supreme Court of Pennsylvania issued a long-awaited decision yesterday in Butler v. Powers Estate, reversing a controversial superior court decision from September 2011.
As discussed previously on the blog, the IRS released Notice 2013-29 on April 15 which provided guidance on determining when construction has begun on a qualified renewable energy facility for purposes of the production tax credit.
A U.S. District Judge has denied a motion for summary judgment filed by oil and gas producer defendants, thus, enforcing the notion that an oil and gas producer can commit a trespass by engaging in hydraulic fracturing.
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