Ohio Shale Boom Entices Schools and Municipalities

The lure of economic prosperity might entice local governmental officials and schools to enter into shale drilling leases, the Associated Press reports. Steubenville will earn a $590,000 one-time payment and a 19 percent royalty on 100 acres recently leased to the natural gas industry, according to the Columbus Dispatch. It has one of the highest unemployment rates in America. County and municipal leaders in the region surrounding Wayne National Forest remain leery about drilling on the land due to environmental concerns relating to the potential impact of fracking.

* An economic report created by the Ohio Oil and Gas Association revealed the industry reinvested nearly $238 million on development new well exploration in the state.

* Denison University officials hosted a public forum to discuss leasing 45 acres of land north of the campus and the potential hazards associated with fracking, according to the Newark Advocate.Bowling Green geologist Andrew Kear said there have been no instances of fracking water contamination in Ohio.

* Hocking College officials are reviewing a $3 million natural gas lease proposal. School President Ron Erickson told the Dispatch the environmental impact is being weighed before any decision is made.

* Natural gas and oil producers distributed approximately $1 billion in royalty payments to schools, landowners, municipalities and businesses since 2000. An additional $61million in free natural gas was given to property owners with mineral interests and wells on their property, according to the Ohio Oil and Gas Association.

http://news.yahoo.com/ohio-shale-boom-entices-schools-municipalities-172200270.html