Economic Impact Of Fracking

Published 09/01 2014 07:36PM

Updated 09/01 2014 08:30PM

Shifting our focus now to fracking.

The Executive Director of the Progress Authority, based in Towanda, Pennsylvania says gas drilling has been a big benefit to Susquehanna and Bradford counties. Tony Ventello, who recently spoke at a Greater Binghamton Chamber breakfast meeting, says overall fracking has been a positive experience for people in the counties. He says, as far as economic benefits, the real impact comes in what you do with the natural gas once it leaves the ground.

Executive Director of Progress Authority, Tony Ventello says, "The true long term benefit of natural gas development lies directly in adding value to that gas before it leaves the area. So, what I mean by that is improved distribution. We have rural areas that don't have access to gas even though there are some very prolific wells right in their area. We're talking about compressed natural gas stations, building infrastructure for vehicles, that's happening. We're talking about liquified natural gas projects."

He says some of those products include waxes, lube oils, and diesel fuel from dry natural gas. Ventello also says that fracking has helped rehabilitate the roughly 45-miles of rail line and its industry in the region.

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