| Ohio group seeks tax hike on oil and gas billions |
| Written by JULIE CARR SMYTH, Associated Press |
| Thursday, 02 February 2012 15:36 |
|
COLUMBUS, Ohio (AP) — A liberal policy group is proposing a tax hike on oil and gas profits ahead of Gov. John Kasich's (KAY'-sihks) State of the State speech Tuesday in an region where drilling has proliferated. Innovation Ohio also seeks passage of a "Landowner Bill of Rights" and a "Hire Ohio" plan to assure residents get their fair share of proceeds and jobs from the coming shale boom. An analysis the group released Thursday found shale drilling could mean $86 billion to Ohio natural gas developers over the next 20 years. The report identified Ohio oil resources worth another $130 billion to $550 billion, along with natural gas liquids of unknown value. The tax increase would bring Ohio's tax rate in line with Texas', raising an additional $5.9 billion to $25.3 billion. Copyright 2012 The Associated Press. |
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