The discovery of vast amounts of natural gas in the Marcellus shale formation has caused what many commentators describe as a "gold rush" in Pennsylvania. Given the value of recoverable natural gas in the Marcellus shale (some estimates are $500 billion), drilling has the potential for significantly large economic and socioeconomic impacts. Join Thomas Murphy, an Extension Educator with the Penn State Cooperative Extension, as he discusses the current state of the industry in Pennsylvania and projections for the future. Mr. Murphy also examines how a thriving natural gas industry affects more than just the firms directly involved. Topics include how the "gold rush" impacts local businesses that supply the industry; changes in regional banking; effects of employee spending on local economies; management of leasing and royalty income for landowners; and environmental concerns.
This course was recorded in September 2010 at PBI`s Second Annual Oil & Gas Law Colloquium. Other sessions are available at PBI`s Online Campus.