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Ohio group seeks tax hike on oil and gas billions

Published: Thu, February 2, 2012 @ 12:38 p.m.

COLUMBUS (AP) — A liberal policy group is proposing a tax hike on oil and gas profits ahead of Gov. John Kasich’s State of the State speech Tuesday in an region where drilling has proliferated.

Innovation Ohio also seeks passage of a “Landowner Bill of Rights” and a “Hire Ohio” plan to assure residents get their fair share of proceeds and jobs from the coming shale boom.

An analysis the group released today found shale drilling could mean $86 billion to Ohio natural gas developers over the next 20 years.

The report identified Ohio oil resources worth another $130 billion to $550 billion, along with natural gas liquids of unknown value.

The tax increase would bring Ohio’s tax rate in line with Texas’, raising an additional $5.9 billion to $25.3 billion.


1ice(28 comments)posted 3 years, 9 months ago

STOP, I trust you do not have any gas fueled equipment in your household, IE Auto, lawnmower snow blower and you best not be buying anything from store if you want to be green. YTown is full of idiots like you

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2redeye1(5351 comments)posted 3 years, 9 months ago

Ice nice post !!!!! Its people like him or her that want to tax the hell out of us for a program that isn't even in existence. Its nothing but a pipe dream. If you follow the news green energy is at least 50 to 100 years away.to be fruitful.

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