News from the Environmental Economics Blog
Marcellus Shale is not a new pop band
Technological advances plus increased reserve estimates plus limited environmental regulation plus job friendly state government means increased drilling for natural gas in the Ohio region of the Marcellus Shale naural gas and oil deposits:
For many residents of this northeast Ohio hamlet, the oil bonanza began with a knock at the door. City Hall received a fax.
Spit from that machine last summer was a mineral rights lease offer -- just like those being hand-delivered to homeowners -- from oil and gas explorer Chesapeake Energy Corp. (CHK). In the subsequent months Chesapeake's oil-field leasing agents swarmed the region, laying claim to what the company and others say may be one of the last big unconventional oil discoveries in the U.S.