Natural Gas to Fund New Energy Projects in PA

Posted March 12, 2015 at 5:00am

The Pittsburgh Post-Gazette reports that “Gov. Tom Wolf’s proposed budget includes new funding for an array of energy projects fueled by both traditional and renewable resources, and it relies heavily on one energy source — natural gas — to pay for it.”  

“The Democratic governor is proposing to issue a $675 million bond to pay for economic development initiatives, with $225 million of it slated for a package of alternative energy, natural gas and energy efficiency projects.”  

“The estimated $55 million annual debt service for the bond would be paid from a severance tax that Mr. Wolf wants to put on the volume and value of gas extracted from the Marcellus and Utica shales.”