EEG 4.11% 38.0¢ empire energy group limited

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    The Business Council of New York Says Natural Gas Drilling Essential
    As the debate over the issue of hydrofracking on the Marcellus Shale in New York state continues, the Public Policy Institute, Inc. (PPI), the research arm of The Business Council of New York State has released a report that there is tremendous potential in natural gas exploration. The report finds that creating as few as 300 natural gas wells per year in the Marcellus Shale has the potential to generate more than 37,500 jobs annually in New York. PPI examines the immense job-creating potential of the natural gas resource, comparing the private sector growth of select counties in the Southern Tier with a section of northern Pennsylvania.
    ?This report details the long lasting economic impact that Marcellus Shale development can bring to New York?s Southern Tier,? said Heather Briccetti, acting-president & CEO of The Business Council of New York State, Inc. ?As the Department of Environmental Conservation focuses on the environmental aspects of Marcellus Shale exploration, it is important that New York also consider the economic impacts. The report stresses that a balanced approach to natural gas extraction in the Marcellus Shale will lead to thousands of new jobs, real property tax benefits and increased tax revenue.?
    In addition to investigating projected private sector employment in the Empire State, the report contrasts job growth data for five counties in New York (Allegany, Steuben, Chemung, Tioga and Broome) with a similar region in Pennsylvania (McKean, Potter, Susquehanna, Bradford and Tioga). PPI finds that the area of New York experienced job loss of 0.3 percent, while the counties just south of the state line saw private sector job growth of 4.7 percent. From 2009 to 2010, Oil and Gas Extraction and Support Activities for Mining, just two of the Marcellus-related industries, gained 4,355 jobs in Pennsylvania. In New York, these sectors combined saw only 42 new jobs.
 
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