Will Illinois pass gas…legislation?
After months of negotiations, legislators, representatives from the Attorney General’s office, environmental groups and oil and gas producers are “very close” to agreeing to regulatory language that could provide the certainty for producers to come and see if the New Albany Shale play in SE Illinois can actually produce natural gas or oil.
This article from Midwest Energy News provides some reasonable context for the on-going negotiations.
I would caution that even though the sides have made tremendous progress over the past few months, there are sticking points left that may or may not get resolved. I’m not going to negotiate the exact issues in a blog but the “easier” stuff is done and some of the hard stuff remains.
We’re not the first men on the moon, here. Many other states have found the regulatory sweet spot that protects the environment and allows oil and gas production to flourish. I’m hopeful that Illinois can be the next state to do it. We’ll be fighting hard here at the Illinois Chamber and the new GROW Illinois coalition to get it across the goal line.
We are not in a position to turn our backs on this wonderful opportunity to welcome an industry that is not looking for a hand out, but a regulatory road map that could lead to tens of thousands of jobs and billions in new economic activity.