A lot of people don’t know that America’s first oil well was drilled right here in Pennsylvania in 1859. The oil boom that followed brought thousands of Americans west, helping rapidly grow the state’s economy and population. Titusville, the home of the first well, was a mere 250 people in 1859. Within five years of the new well, the population grew to over 10,000 people. Neighboring Pithole went from four log-cabins to a city with more than 50 hotels.
Today, that success continues. With approximately 424,000 total jobs supported, including over 93,000 direct positions, and more than $40 billion in labor income generated annually, the natural gas and oil play a vital role in Pennsylvania’s employment landscape and overall economic health. One critical aspect of Pennsylvania’s current natural gas industry framework is the collection of an impact fee on natural gas wells drilled in our state. Since its implementation in 2012, this impact fee has provided more than $2.5 billion for critical environmental, infrastructure, public safety, and other projects in all 67 counties.
. And that’s something worth celebratingIf you purchase a product or register for an account through a link on our site, we may receive compensation.and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our
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Source: PhillyInquirer - 🏆 81. / 68 Read more »