[Oily Stuff]

In Mexico they have a sayin' I like and it goes; soy viejo, pero no me conso.

I am old but I am not tired.

We have good work yet to do, gentlemen. Let us carry on as though we are young, as though we know what the hell we are talking about...even if we don't.

[ROCKMAN]

pstarr - Not that I would dispute their number but just need to see if their model makes sense. As I pointed out the state has earmarked about a quarter of a $billion to repair damage caused by the oil patch. BTW any thime the state or a county wants to stop the road damage all either need do is deny the road permits. You can't roll any oil patch equipment without a permit. Like much in life there are trade offs that have to be evaluated.

[ROCKMAN]

Just discovered some info that requires me to apologize to PA politicians. They complained about the road damage etc. brought on by the drilling boom in the state and the lack of funds to deal with these problems. I said they would have more than enough revenue to take care of those problems as well as increased regulation costs if they just collected severence taxes like we do in Texas. Turns out they weren't incompetent but just a bunch of deceitful buttheads. Just found this report of how much the state has been collecting even though they don't collect severance tax:

As Pennsylvania shale production continues to soar, the state Public Utility Commission (PUC) announced Friday that impact fee revenue for 2013 hit record levels. With a total of 6,489 unconventional wells under development or in production as of December 31, 2013, shale producers contributed a total of $224.5 million in impact fees for the calendar year. This brings total impact fee revenue to more than $630 million over the past three years, in addition to the more than $2.1 billion in state tax revenue generated by the industry since 2008. ("Impact fees"...cute.

“This new stream of revenue is having a positive and real impact in communities with shale development as well as those without active Marcellus production. Whether these funds are invested in bridge and road projects, the purchase of new firefighting equipment, key environmental programs, or other major community priorities, these dollars are creating profoundly positive and shared benefits. These fees are in addition to the Commonwealth's tax requirements. According to Pennsylvania's revenue department, natural gas development has contributed more than $2.1 billion in recent years through tax payments to the state's general fund. In addition, shale companies have invested more than $1 billion in transportation and infrastructure improvement projects, as well as critical royalty payments to the Commonwealth and private landowners alike.

So at least $2.7 billion. I think I could find a few funds to patch some potholes. LOL.

[Newfie]

Here's a bit on the PA road repair program.


http://www.dot.state.pa.us/Internet/P3i ... e?ReadForm

[vtsnowedin]

So they have the money, now watch close to see if they actually spend it wisely and rebuild the roads or fritter it away on Gee- wiz miracle cures provided by some contributor to a political campaign. It is not the level of spending that matters it is what you get for the money when it is all said and done.

[ROCKMAN]

Vt - So true. Seems to be a never ending question at all levels of gov't these days: is it a lack of gov't income or a misallocation of resources?

[vtsnowedin]

$this->bbcode_second_pass_quote('ROCKMAN', 'V')t - So true. Seems to be a never ending question at all levels of gov't these days: is it a lack of gov't income or a misallocation of resources?