News
Reasonable Regulation urged at Gas Well drilling sites
August 26, 2014
Total revenue from natural gas royalties to individuals, businesses, the City of Denton and the University of North Texas will be subject to a significant decline if citizens vote to implement a permanent ban on hydraulic fracturing (fracking) within the city limits of Denton.
A proposed permanent ban on hydraulic fracturing has been placed on the ballot for November 4, 2014. According to a recent report from The Perryman Group, if no new wells are allowed, the City of Denton could lose an estimated $5.1 million in tax receipts over the next ten years, and as much as a $4.6 million forfeiture for the Denton Independent School District.
Texas is among those states fueling the clean energy renaissance for the entire country through the development of natural gas resources. Denton is located over the core of the Barnett Shale, a 5,000 square mile oil and natural gas bearing rock formation.
The fracking ban proposal has been reviewed by the chamber’s Local Relations Committee, recognizing that property rights are inherent to the freedoms, privileges and responsibilities enjoyed by all Americans.
During its regular August 21 meeting, the Denton Chamber Board voted unanimously to “oppose a permanent comprehensive ban on hydraulic fracturing within the city limits of Denton.” The Board position went on to “advocate that the City of Denton pursue reasonable regulation of local well sites while protecting the property rights of all citizens.”
Current state law guarantees that property owners have access to their minerals. The Board feels like challenging state law with a permanent local comprehensive ban is not the answer to concerns over the drilling process.
The Denton Chamber Board encourages chamber members and their employees to vote against the proposed fracking ban on the November 4, 2014 ballot.
A proposed permanent ban on hydraulic fracturing has been placed on the ballot for November 4, 2014. According to a recent report from The Perryman Group, if no new wells are allowed, the City of Denton could lose an estimated $5.1 million in tax receipts over the next ten years, and as much as a $4.6 million forfeiture for the Denton Independent School District.
Texas is among those states fueling the clean energy renaissance for the entire country through the development of natural gas resources. Denton is located over the core of the Barnett Shale, a 5,000 square mile oil and natural gas bearing rock formation.
The fracking ban proposal has been reviewed by the chamber’s Local Relations Committee, recognizing that property rights are inherent to the freedoms, privileges and responsibilities enjoyed by all Americans.
During its regular August 21 meeting, the Denton Chamber Board voted unanimously to “oppose a permanent comprehensive ban on hydraulic fracturing within the city limits of Denton.” The Board position went on to “advocate that the City of Denton pursue reasonable regulation of local well sites while protecting the property rights of all citizens.”
Current state law guarantees that property owners have access to their minerals. The Board feels like challenging state law with a permanent local comprehensive ban is not the answer to concerns over the drilling process.
The Denton Chamber Board encourages chamber members and their employees to vote against the proposed fracking ban on the November 4, 2014 ballot.
Contact:
Chuck Carpenter , President
(940) 382-9693
;
dcoc@denton-chamber.org
414 W. Parkway
Denton, Texas 76201
TEL 940-382-9693
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