Millions of NY Dollars go to Pennsylvania
Fortuna backed out of NY deal and coughed up cash in PA
Take Action Now To Get Attention Back To NY!
“Thank you, thank you, thank you, N.Y. bureaucrats, for keeping on diverting the dollars here to Pa.” This is a quote taken from a very pleased member of a Pennsylvania land coalition after hearing how much money he’ll be getting through the latest negotiations.
I’m sure you have heard of the deal. The Friendsville group is pocketing a hefty $5,500 an acre up-front as a signing bonus along with 20% net royalties through a 5 year, landowner friendly lease. FORTUNA is the company that is putting up the money and agreeing to the terms to make these landowners just over the NY border have the nicest Christmas they have had in a long time.
However, do you remember that in April of this year, Fortuna announced that it was opting out of its lease payments in Tioga County, New York. The company cited the poor economy as well as an uncertain state regulatory environment as reasons for the action. Property owners were given the opportunity to continue on with Fortuna, but receive retroactive lease payments only if and when the company takes the leases back up. Otherwise they were to be canceled. All of the leases involved were intended for Marcellus shale development in New York.
What a difference 6 months made for New York and Pennsylvania. Millions of dollars of revenue were wiped off the books for New York landowners and transferred over to Pennsylvania. This perspective should erase all doubts that the glacial pace of NY legislators and the DEC has cost New York residents hundreds of millions of dollars.
Currently, rumblings are out there that the DEC may be coming to a finish on its regulatory statements which will be followed by an undisclosed period of time for comments. Without a doubt, every person who is in opposition to natural gas exploration will be involved in this comment period. So, if you want safe drilling in the near future for New York State, you cannot sit back and expect that it will happen any time soon without your action. Here’s what you can do:
1. Show up/Write. We’re not sure whether the DEC will actually be holding public meetings for the comment period, as they did during the drafting phase or if this comment period is only for written/verbal comments. So if the DEC holds public meetings for comment, SHOW UP. If they only want written comments, WRITE! Thousands of landowners are signed with numerous land coalitions across the Southern tier. The DEC must hear from us.
2. Go online. Go ahead and click on www.safedrillingnow.com – a website established by Senator Tom Libous. I don’t care if you are not a Republican, his site has a link where you can take polls and send e-letters to Governor Paterson and DEC Commissioner Pete Grannis that we need draft regulations for natural gas drilling now. Surprisingly, only 250 people have signed this online petition – a petition first mentioned at our Joint Coalition rally involving over 2,000 people.
If You Want Safe Drilling Now in NY you cannot be passive – It’s time for immediate action . . . or our gas money will all go to Pennsylvania
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