Enacting a severance tax aimed at Pennsylvania’s unconventional natural gas activity would substantially harm the commonwealth beyond the industry itself, three oil and gas trade association officials warned. Gov.-Elect Tom Wolf (D) made such a tax a major part of his campaign as a relatively quick way to increase revenue and begin bringing Pennsylvania’s budget in line. But the commonwealth’s economy has flourished as gas activity grew under the existing system, Associated Petroleum Industries of Pennsylvania Executive Director Stephanie Catarino Wissman said. “Energy development is sustaining families with new jobs and generating more income for communities,” she said during a Dec. 16 teleconference with reporters. “Don’t fix what is not broken. Don’t break the economic backbone of the commonwealth.” “The revenue projections that were out there during campaign season were wildly overestimated and can’t be supported by facts,” added Marcellus Shale Coalition Pres. Dave […]