S&P 500
1964.58
+13.76 +0.70%
Dow Indu
16805.41
+127.51 +0.76%
Nasdaq
4485.20
+32.41 +0.72%
Crude Oil
81.01
-0.77 -0.95%
Gold
1231.31
+0.86 +0.07%
Euro
1.2671
0.0000 0.00%
US Dollar
85.724
-0.108 -0.14%
Strong

Market Commentary and Intraday News

Billions in gas drilling royalties transform lives

636 days ago

Trading Index Futures
FREE Webinar will assist you in identifying good technical trade setups on the charts and the key components of your entry and risk in this market. Index futures are very technical in nature and are traded by professionals around the globe. Learn the index futures market and understand what you need to know when trading these instruments. Learn the Gap trade strategy to help build consistency in this market.
Click Here For Details

By KEVIN BEGOS
Associated Press

(AP:PITTSBURGH) Private landowners are reaping billions of dollars in royalties each year from the boom in natural gas drilling, transforming some lives even as the windfall provides only a modest boost to the broader economy.

In Pennsylvania royalty payments could top $1.2 billion for 2012, according to an analysis by The Associated Press.

Jerry Simmons, the director of the Oklahoma-based National Association of Royalty Owners, says membership is growing fast in Pennsylvania.

The group says nationwide gas royalties totaled about $22 billion in 2010. Texas paid out the most, about $6.7 billion, followed by Wyoming at $2 billion and Alaska at $1.9 billion.

Robert Inman, a professor of economics at the University of Pennsylvania, says the royalty windfalls are good for individuals, but not a big factor in the overall economy.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.