UNIVERSITY PARK, Pa. — Comparing revenues from oil and gas production across 16 states and describing major impacts in regions such as the Marcellus, Bakken and Permian will be the focus of a web-based seminar to be presented by Penn State Extension.
The presentation, from 1 to 2 p.m. on May 18, will feature Daniel Raimi, senior research associate with Resources for the Future. He will describe the major sources and uses of oil and gas revenue in all major oil- and gas-producing states and the fiscal impacts for local governments in those regions. Implications of changes in revenue policy and commodity prices for state and local governments across the United States also will be discussed.
The United States has seen oil and gas production increase dramatically over the past decade, creating major impacts for state and local governments and a new landscape for fiscal and regulatory policy, Raimi pointed out. Also, he noted, there has been limited analysis of state guidelines to help policymakers tailor their fiscal policies to best meet the needs of residents, businesses and multiple levels of government.
"Most existing research focuses exclusively on severance taxes or impact fees, but our analysis includes other major revenue sources such as property taxes and oil and gas leases on state or federal lands," Raimi said. "Our analysis also includes interviews with more than 250 local government officials across the country to assess local impacts."
The webinar is free, but registration is necessary. To register, visit the Penn State Extension Natural Gas Events webpage. More information is available by contacting Carol Loveland at 570-320-4429 or email@example.com.
Penn State Extension's Marcellus Education Team provides monthly webinars on a variety of topics. Upcoming webinars include:
--June 15: "Shale Legislative Updates," featuring Ross Pifer, clinical professor at Penn State’s Law School, director of the Rural Economic Development Clinic and director of the Center for Agricultural and Shale Law.
--July 20: "Assessment of Atmospheric Methane Emissions from Natural Gas Production along the Northeastern Marcellus Shale," featuring Zachary Barkley, Penn State research assistant, Department of Meteorology, and Thomas Lauvaux, Penn State associate professor of meteorology.
Previous webinars, publications and information also are available on the Penn State Extension natural-gas website, covering a variety of topics such as liquid natural gas, seismic testing, methane emissions; water use and quality; Marcellus and Utica basins; natural gas reserves; gas-leasing considerations for landowners; legal issues surrounding gas development; and the impact of Marcellus gas development on forestland.