In this third volume of the podcast series, George Stark goes into detail about the energy industry & education and the amount of money companies actually contribute to education in the Commonwealth. He highlights not only Cabot Oil & Gas Corporation, but also EQT Corporation, Range Resources Corporation, Chevron, CONSOL Energy, and Seneca Resources as companies who promote education and education funding.
For example, shown in the infographic to the right, this year alone Cabot plans to donate $1 million explicitly towards education in the Commonwealth and has a strong tie to the community in which it operates for scholarships, grants and educational programs. In 2015, CONSOL Energy also awarded three $5,000 scholarships to local high school seniors and $80,000 to the Foundation of Greene County Educational Improvement Fund.
The idea that a Severance Tax, promoted by Governor Wolf, would take money away from natural gas companies and fund education is flawed. Governor Wolf’s proposed Severance Tax has been advertised that it’s going to fund education, but isn’t even earmarked that way in the legislation. Taxing the natural gas industry wouldn’t award money to education, but actually take money away from an industry that is helping to promote it. You can also read about how Cabot specifically promotes education in the Commonwealth on our blog, Well Said.