…The study cites Penn State geoscientists saying that large portions of western and northeastern Pennsylvania have deep-layer rock called Marcellus shale, from which maybe 50 trillion cubic feet of natural gas is recoverable.
That’s almost double the amount of gas extracted nationally.
Rendell says he’ll seek $150 million in new taxes on this gas.
Why not more?
The study says that a 10 percent tax brings the state a sweet $560 million and a 15 percent tax means a sweeter $840 million.