New York State Petroleum Council Executive Director Karen Moreau issued a statement in response to the New York Court of Appeals decision to uphold local bans on hydraulic fracturing.
“The New York Court of Appeals has effectively threatened the property rights of thousands of landowners who wish to lease their land for natural gas development,” said Moreau.
“There are real losses here, and it’s a real tragedy for thousands of farmers and people in rural communities that would have realized the economic benefits that oil and gas development can deliver. Municipal boards change hands every two years and a constantly shifting landscape of regulatory uncertainty virtually guarantees that major long-term investments in the state’s economy cannot occur,” stands in the statement.
“Hundreds of towns in the heart of the New York Marcellus Shale, known as the Southern Tier, have repeatedly supported safe and responsible natural gas development and job creation. Our companies look forward to partnering with these communities, to ensure that uncertainty created by the Court does not stand in the way of efforts to promote investment in New York,” stressed Moreau.
Press Release, July 2, 2014