May 1, 2013
Special counsel Wayne J. D'Angelo was quoted in the Oil & Gas Journal article entitled "New York Marcellus Development Still Faces Hurdle." New York is one of the states with recoverable shale assets that has a standing moratorium on hydraulic fracturing - the process that extracts these resources.
The state is now 4 years into the debate on whether hydraulic fracturing should be allowed. "The timing is speculative at this point," said Wayne D'Angelo, analyst, Kelley Drye & Warren. "The administration has changed its justification for extending the moratorium several times. It is impossible to guess where the goalpost will be moved next."
With no clear ruling in place, many local communities are now imposing bans on drilling activity by restructuring zoning laws.
From a local community perspective, using municipal authority to prevent industrial activity is understandable, according to D'Angelo. "But from an operational perspective, it becomes difficult to attract meaningful investment to the state," he added.
"Ultimately, I think New York will allow hydraulic fracturing. There's too much economic upside," D'Angelo said. "There are environmental issues, but they can be managed and they have been successfully managed."
Read the full article click here.