Saturday, March 9, 2013

Natural Gas Drilling: Resource Curse?

"When it comes to long-term economic development, there’s ample
evidence to suggest that counties where drilling occurs will be in
worse shape down the road, and that even during the drilling and
producing phases, there will be a few winners and likely a whole lot
of losers, especially among lower-income individuals. Furthermore, the
areas targeted for drilling are often the ones already struggling
economically, which means less wealthy individuals and communities may
become further impoverished."

I have heard quite often, particularly from Bradford County (PA) residents who love gas drilling, that I should mind my own business, since I don't live in the county.  They say gas drilling is the best thing that ever happened to them.  They think it is selfish of me to want to block their economic advantage for the sake of environmental and health concerns.  This article may cast some light on just how advantageous gas drilling will turn out to be, especially for poor, rural areas even though people there may see gas drilling as a way to prosperity in the short term at least.  If the people who were visited by the landmen and women a few years back had been well off financially, would they have signed those gas leases?

Read the article here.

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