Tuesday, April 12, 2016
Over the next five years, low commodity prices and the drilling downturn is projected to result in $6.5 billion in lost income for Ohio landowners with mineral rights, Akron Beacon Journal reports.
In addition, the state of Ohio will lose $665 million in lost tax income over the next five years. Over the next nine years, landowners could lose as much as $12 billion and the state could lose as much as $2 billion.
The drilling downturn is expected to last for at least another 18 months when prices are predicted to increase. Until then, fewer interstate pipelines and fewer wells are expected to be completed.
Read more: Akron Beacon Journal > Utica Shale drilling downturn to cost Ohioans lost royalty money and state income tax, expert says
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