Ohio Missed Out on $1.2 Billion Plus in Severance Tax Revenue (Policy Matters Ohio)
Since the beginning of the fracking boom, more than $40 billion worth of natural gas has been extracted from Ohio’s shale deposits. Yet, in the same time period, the state’s largest gas-producing counties saw population, personal income, and jobs decline.
“Ohio’s gas producing counties are being drained of both their natural resources and their economic vitality at the same time,” Guillermo Bervejillo writes. A severance tax on extracted gas could shore up funding for social services and the public good.