Ohio Oil and Gas Industry Against Proposed Increase in Severance Tax
Tags: Ohio
The Ohio Petroleum Council (OPC) and the Ohio Oil & Gas Association (OOGA) maintained their stance against Governor John Kasich’s proposal to increase the severance tax on oil and natural gas in a press release issued Monday. Kasich first proposed hiking the severance tax last year. By increasing the severance tax to 4%, Governor Kasich believes that all Ohioans will benefit from development of the Utica Shale. OPC and OOGA maintain that Ohioans are already benefiting from shale energy development by putting people to work, paying high wages and generating billions in revenue for the State. OPC and OOGA also cite a report saying that Ohio oil and gas companies paid more than $910 million in state and local taxes in 2011.