Texas vs. New York: A Tale of the Tape

One New Yorker is touting all the tax revenue generated by shale gas for schools and municipalities in North Texas.

Could it be that New Yorkers are wrestling with a case of “Texas envy?”

One former resident of the Empire State certainly is, and he explains why in Investors Business Daily.

The bottom line? It’s all about realizing the economic benefits from developing the natural gas in the shale deposits that are deep in the earth. 

You can see the editorial online.  In our mind, it’s a quick, easy, insightful read. A couple of his points about the Barnett Shale especially bear repeating.

Specifically, he cites job creation (53,200 in the Metroplex) and tax revenue ($238 million for municipalities and school districts in North Texas) from 2008-2010.  

Our local wells are doing their part. In 2010, we paid $3.1 million in severance taxes and $4.6 million in ad valorem taxes across our operating area that stretches from south of Fort Worth to Flower Mound and Lewisville.

Additionally, we’ve distributed more than $80,000 in education and school-related grants over the past few years at Flower Mound High School, Marcus High School, Lewisville High School and to the Lewisville Education Foundation.