A proposed natural gas severance tax in Pennsylvania would have negative economic consecutives for the state, according to a Natural Resource Economics Inc. study released May 7 by the Associated Petroleum Industries of Pennsylvania (API-PA). “Higher energy taxes could put a damper on energy activity, and the commonwealth could be worse off with a new severance tax,” said Stephanie Wissman, API-PA executive director. “Natural gas development supports hundreds of thousands of jobs in Pennsylvania, contributes $34.7 billion annually to the state economy.” The report, “The Economic Impacts of the Proposed Natural Gas Severance Tax in Pennsylvania,” analyzed the impact of Gov. Tom Wolf’s proposal to implement an additional gas severance tax. Proposals include adding 5% on the gross market value of production plus a fixed fee of 4.7¢/Mcf produced and establishing an artificial floor of $2.97/Mcf regardless of the actual gas price ( OGJ Online, Mar. […]