Experts: Ohio gov's $1T oil, gas price tag wrong - 13 WTHR Indianapolis

Experts: Ohio gov's $1T oil, gas price tag wrong

Posted: Updated:
COLUMBUS -

A claim by Ohio's governor that a single energy company could recover $1 trillion worth of oil and gas from the state's shale is an exorbitant overestimate, according to experts interviewed by The Associated Press.

Arthur Berman, a Texas-based petroleum geologist and independent energy consultant, says he thinks John Kasich is "way off base."

Kasich traces the trillion-dollar figure to a conversation with an energy company CEO he has never named.

At current oil prices, that figure represents more than four times U.S. oil production last year.

The revenue potential of newly accessible deposits of oil, natural gas and natural gas liquids under the state is important because Kasich is pursuing an increase in a state tax that large-volume oil and gas producers pay on what they extract. Proceeds from the tax would fund modest statewide income tax relief.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.