[vc_row animation=””][vc_column width=”1/1″][vc_single_image css_animation=”” image=”8145″ border_color=”” img_link_large=”” link=”https://wellsaidcabot.com/wp-content/uploads/2015/08/Chart.png” img_link_target=”_self” img_size=”full”][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]In order to keep the public updated on the current energy industry and the business environment surrounding it, Cabot is happy to introduce a series of podcasts by George Stark, External Affairs Director.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]In light of the possibility of a Severance Tax on the natural gas industry in Pennsylvania by Governor Wolf, Cabot has shed some light on Pennsylvania’s natural gas industry struggles, via podcast, which would only worsen with an additional tax imposed on it.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]Highlighted in his podcast are the struggles of local oil and gas companies like, EQT Corporation, Cabot Oil & Gas Corporation, CONSOL Energy, Range Resources Corporation, and Southwestern Energy. For example, CONSOL Energy recently announced layoffs of more than 10 percent of its workers, Range Resources will cut its rig count by 15 to 6 by the end of the year and Southwestern Energy’s revenue fell 26 percent. The recent poor market conditions and low gas prices have caused these companies to lose profits, resulting in fewer investments and more layoffs throughout the Commonwealth and the entire country.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]An additional Severance Tax on the industry would only do more to weaken the already struggling industry, which would affect us all.  Instead of raising unnecessary taxes on a vital industry, lawmakers should focus on how to harness our energy industry’s resources and help to make the business conditions favorable for it to succeed.
[/vc_column_text][/vc_column][/vc_row][vc_row animation=””][vc_column width=”1/1″][vc_column_text]To learn more, listen to the entire Volume 1: Natural Gas Struggles podcast here:
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