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Economic Studies

Economic Studies. Most long-term analysis on communities that rely on “fossil fuel extraction” for economic development report overall negative consequences and diminished future competitiveness.

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Economic Studies

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  1. Economic Studies Most long-term analysis on communities that rely on “fossil fuel extraction” for economic development report overall negative consequences and diminished future competitiveness. “Fossil Fuel Extraction as a County Economic Development Strategy: Are Energy-focusing Counties Benefiting?” Headwaters Economics September, 2008 - revised 07/11/09 Over 100 Counties Studied over 35 year period (1970 -2005)

  2. Income Employment Avg. Earning Population Income/Capita 0 -0.5 -1 -1.5 -2 -2.5 -3 -3.5 -4 -4.5 -5 Boom/Bust Cycle for communities that rely on “fossil fuel extraction” Economic Indicators 4 3.6 3.5 3.0 3 2.4 2.5 1.9 1.7 2 1.5 1 0.5 Difference in Annual Growth Rates relative to Peers 0 -2.1 -2.4 -2.5 -3.4 Over 100 Counties Studied -4.5 Energy Boom Over Performed Energy Bust Under performed Headwaters Economics 2005

  3. Economic Health of New York’sTop Ten Gas Counties (2006-2008)

  4. Economic Health ofFive Nearby Counties (2006-2008) (from previous slide) Source: American Community Survey

  5. Otsego Study Key parts of the upstate economy • Tourism • Recreation (including Hunting and Fishing) • Agriculture (Dairy, Wineries, Specialty Foods, Organic Farming, etc.) Bring in 18 times more revenue* than gas drilling * as reported by pro-drilling advocates Economic Activities that “keep on giving”

  6. Economic Threats • Threats to Tourism, Recreation, Agriculture (18 times more revenue than gas drilling) • Threats to landscape (Beautiful Place to Live & Work) • Threats to land value (difficulty getting mortgages) • Higher infrastructure costs (Higher Taxes) • Threats to attracting young workers (OUR FUTURE) Will people want to live here? High Tech companies use area’s beauty and healthy environment (plus low crime) to attract (or keep) high caliber young people

  7. Property Owners • People have bought property and built homes in areas zoned residential thinking they were protected from industrial activity being built close by. • Gas drilling is exempt from all local zoning and land-use regulations. • Equity values drop no mater what and if wells are contaminated, life will become more complicated and expensive and value of home will diminish even further. • Selling of their homes might become difficult as banks (FHA & HUD included) decline to provide a mortgage or a loan secured by the property. • A growing number of insurance companies are not insuring leased properties, or have substantially raised their premiums.

  8. Impact on Infrastructure Stress on emergency services • Diesel spills • Chemical spills • Release of radioactive elements • Chemical fires • Gas eruptions • Contamination of aquifer (fire, hazmat, emergency squads, and hospitals) Accidents associated with gas drilling: Most volunteer companies are ill-equipped to deal with these situations

  9. Impact on Infrastructure Stress on Sewage Treatment Facilities Roads and Bridges

  10. Federal Regulation The 2005 Energy Policy Act exempted oil and gas industries from the following regulations: • Clean Air Act (CAA) • Clean Water Act (CWA) • Safe Drinking Water Act (SDWA) This industry is the only one allowed by EPA to inject hazardous chemicals into or adjacent to underground drinking supplies

  11. Federal Regulation • Storm Water Rules • The National Environmental Policy Act (NEPA) • The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) • The Resource Conservation and Recovery Act (RCRA) • The Toxic Release Inventory under the Emergency Planning, Community Right-to-Know Act (EPCRA) ….and the list goes on

  12. State Regulation • Gas Industry exempted from following hazardous waste protocol when disposing cuttings and waste fluids (classified as general “industrial” waste) • Gas Industry activity can overrule local zoning laws relating to land use and planning • Industry can force land owners into becoming part of “spacing units” whether the land owner wants to or not (compulsory integration) • Gas Industry can use eminent domain (take your land) to run collection pipes • NY State passed fast-track legislation for the gas drilling industry with very little legislative review (last few days of session)

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