February 2, 2009

...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.

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