WV News – Experts say West Virginia’s oil and gas industry has failed to live up to economic expectations due to the falling price of natural gas, which has cut into the industry’s profits and under-delivered state tax revenues. Read full article.
Although the state has experienced a sixfold increase in natural gas production in the past decade, the industry has fallen short of predictions for economic growth, job creation and tax revenue generation. That’s according to a study from the Institute for Energy Economic and Financial Analysis and the West Virginia Center on Budget Policy.
The report, “Falling Short: Shale Development in West Virginia Fails to Deliver on Economic Promises,” shows the shale industry has also missed expectations of creating jobs, reducing poverty and spurring wider economic growth.
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