The Good: People are enjoying the cheapest gas prices since 2009! According to President Barack Obama, Americans should take advantage of these savings and put them to good use, by suggesting that they put the money into savings or buy something that will still be useful once gas prices start creeping up, such a fuel efficient car...
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President Obama established a national goal in 2011 to reduce oil imports by one third by 2020 and elevated the goal in 2012 to reduce them by one half by 2020. We are currently on track to meet this goal. Increasing domestic production of oil is having positive effects on economic growth, including more jobs. Government funded...
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Bayport International Holdings, Inc. Signs Letter of Intent to Purchase 5 Oil Wells
Bayport International Holdings, Inc.* has signed a Letter of Intent to purchase an interest in 5 oil wells located on the Scott Lease, Venango County, PA. The approximately 52 acre lease is located north east of the town of Oil City, Pa. The...
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Shell Chemical LP is trying to lock up enough ethane suppliers in order to decide if they should go forward with the proposed plant in Beaver County. Shell Chemical LP has secured some supply commitments from CNX Gas Co. LLC, A subsidiary of Consol Energy Inc, Hilcorp Energy Co, Noble Energy Inc and Seneca Resources Corp. Obtaining...
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Many municipalities across Pennsylvania received less money from the fees paid for Marcellus drilling this year. The average lesser amount was about 10%. The fees collected for 2012 was about $202.4 million dollars, which was a decrease of about $1.8 million dollars. Part of the reason in the drop in impact fees is the drop in the...
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