3 Fracking Bans Defeated in Ohio Voting, 1 Gets Passed

By -
From the Akron Beacon Journal:
Athens city voters approved a community bill of rights that would ban hydraulic fracturing or fracking within city limits. 
It was approved by 78 percent of the voters in unofficial final returns. 
The issue was put on the ballot by the grass-roots Athens Community Bill of Rights Committeee. 
Voters rejected similar bills of rights in Kent, Youngstown and Gates Mills.
Energy in Depth had further detail about the rejection of the ban in Youngstown, which marked the fourth time voters have voted down the measure:
Last night, for the fourth time in two years, Youngstown voters soundly rejected an anti-fracking charter amendment, disguised as a community “Bill of Rights,” by a vote of 58 to 42 percent.  As the Youngstown Vindicator reported, the defeat was significant: 
“This was the largest margin of defeat — 15.7 percentage points — for the measure first put on the May 2013 ballot by the Community Bill of Rights Committee.” 
The results are not surprising, especially considering that the Mahoning Valley has greatly benefitted from the jobs and economic growth that have come with oil and gas development.  As we’ve noted before, the region has landed over 25 oil and gas projects, contributing to at least 4,000 jobs and investments totaling more than $5 billion.  Vallourec Star is set to expand its operations by building an $81.6 million steel pipe threading plant.  Pennant Midstream recently began operating a $375 million Natural Gas Processing Plant in Southern Mahoning County. Dearing Compressor and Pump, which currently employs 180 people, also recently announced plans to expand its plant for the third time in 10 years.  All these projects – and numerous others – have contributed to a 17 percent increase in sales tax apportionment since 2010 and have helped reduce unemployment by more than five percent in the area.
Read that whole article here.

Connect with us on Facebook and Twitter!

Popular posts from this blog

Fracktivist in Dimock Releases Carefully Edited Video, Refuses to Release the Rest

By -
Image
From Energy in Depth: There is something very strange going on along Carter Road, in Dimock, Pennsylvania, and I’m not speaking of natural gas, methane migration, contamination, litigation or even the extensive water testing there by the EPA and others.  No, I’m talking about a new “Watergate” conspiracy, complete with 18 minutes of missing tape (well, video, actually). It seems the ever-present Green Party member and  naturist   Vera Scroggins  (a/k/a  Vera Duerga ) has posted a video of Craig Sautner meeting with the EPA.  Mysteriously, the video is but 14 seconds in length, cutting off conversation in what is obviously mid-stream.  It raises a question Craig Sautner, like  Ronald Reagan in Kings Row , might have asked, “Where’s the rest of me?’  Carter Road, isn’t Kings Row, of course, (at least not until you arrive at  the mansion Scott Ely, one of the Dimock litigants, is building with his royalty money ), but there appears to be...
Read more

The Second Largest Oil and Gas Merger - Cabot and Cimarex

By -
Image
       Due to investor pressure, the U.S shale drillers are being pushed to improve financial and operational performance after a few years of poor returns. Even though the industry has improved its numbers, when compared to last year, investors still want more to be done for them to earn more money.      That's why two mid-tier shale drillers, Cabot and Climarex, have decided to merge in order to eliminate $100 million in annual costs, which means more money for the investors. This all-stock transaction is valued at about $7.4 billion, which is relatively high for the oil and gas sector.      The new entity will be renamed and the headquarters located in Houston, Texas. Cabot shareholders will own 49.5 percent of the new entity, and Climarex the rest.       The Cimarex-Cabot merger will address the investor's demand for a higher amount of returning cash. The initial plan is to pay a 50-cent-per-share special dividen...
Read more

Do You Know The History of Fracking?

By -
Image
  In 2018, 59% of total oil production in the U.S came from hydraulic fracking, which means it accounted for more than two-thirds of domestically manufactured gas. By 2024, fracking will reach an astounding $68 billion market value! Of course, fracking is not a new drilling method as you can trace it back hundreds of years. That's why we want to consider the history of hydraulic fracturing (fracking). We will be stating historical facts about it and focusing on the major historical occurrences that have influenced modern-day fracking. Pre-Fracking Days The idea of fracking started back in 1862 when Edward A.L. Roberts (Civil War veteran) witnessed Confederate soldiers exploding artillery rounds into a canal that obstructed a battlefield. At the time, Edward A.L. Roberts called it superincumbent fluid tamping. On April 26th, 1865, Edward A.L. Roberts began experimenting with exploding torpedoes, which consisted of lowering a torpedo containing an amount of powder from fifteen to tw...
Read more