SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
But…

Friday, Dec 14, 2012

* A new study conducted for the Illinois Chamber claims that fracking could bring big bucks and lots of jobs to Illinois

Hydraulic fracturing in Southern Illinois has the potential to create more than 47,000 jobs and more than $9.5 billion in economic impact, according to a study released Thursday by the Illinois Chamber Foundation.

The study, conducted over the last four months, is the first of its kind to focus entirely on the state’s potential with regard to increased horizontal drilling and hydraulic fracturing, or fracking, the chamber said. The study, based on the potential of the state’s New Albany shale field, was administered by economist David Loomis, a professor at Illinois State University.

Laying out three possible scenarios for exploring natural gas production — low, medium and high — Mr. Loomis determined a range of economic outcomes that could benefit Illinois based on the amount of labor and equipment supplied from inside and outside the state.

But

Illinois Geological Survey Director Don McKay cautioned that the formation may never be capable of producing a boom, based on the work of the agency’s recently retired expert on the subject, David Morse.

“His assessment is that our New Albany Shale resource in Illinois probably doesn’t contain a lot of gas,” McKay said. “Our shale because of its geological history was not subjected to the high temperatures for the long range of time that would be required.”

And

Chamber member Tom Wolf said the business group hopes lawmakers consider those potential effects as they work on Senate Bill 3280. The legislation would set up regulations for hydraulic fracturing, which detractors call fracking, and other drilling techniques that would be used to explore the New Albany formation.

“The industry’s at the table because they want a road map that helps them in the long term,” Wolf said, adding that the oil and gas industry hopes to talk the state out of setting fees to mitigate wear and tear on roads and impacts on the environment before it knows what the formation might produce. “What I’m trying to avoid is impact fees and taxes based on the hope that this (drilling) will come about and that would scare people away.”

* Moody’s lowered Illinois’ credit outlook from “stable” to “negative” yesterday

“The negative outlook reflects our view that the state’s pension funding pressures are likely to persist and perhaps worsen in the near term,” Moody’s said in its report. “Moreover, fiscal 2014 marks the last year before Illinois’ 2011 income tax increases are partly unwound, putting the state on track to deal with simultaneous growth in pension funding needs and loss of revenue.”

Moody’s also pointed out that any steps likely to be taken to reform the pension system will almost certainly be challenged because the state’s constitution protects retiree benefits.

But Moody’s kept the state’s abysmal rating in place. This was mainly just a warning shot across the General Assembly’s bow ahead of the January lame duck session.

* We covered this yesterday

Gay marriage supporters said Thursday they are “within striking distance” of passing a bill that for the first time would let same-sex couples be legally wed in Illinois. […]

The two Chicago Democrats said they plan to put up the same-sex marriage bill for a vote, and they indicated they wouldn’t do that without believing it would pass. It’s a tough vote for some lawmakers to take.

But

The move carried the practical effect of mobilizing gay activists to lobby lawmakers over the holidays but also represented a tossing down of the gauntlet on the issue, revving up opponents for an intense battle. […]

[Robert Gilligan, executive director of the Catholic Conference of Illinois] knew of no lawmakers whose positions had switched from opposition to support of gay marriage

- Posted by Rich Miller        


13 Comments
  1. - western illinois - Friday, Dec 14, 12 @ 12:40 pm:

    The other downgrade had a huge effect on interest rates…..

    Somehow I think guns will be the big topic


  2. - Pot calling kettle - Friday, Dec 14, 12 @ 1:07 pm:

    ==the oil and gas industry hopes to talk the state out of setting fees to mitigate wear and tear on roads and impacts on the environment before it knows what the formation might produce==

    The fees should be set to mitigate the costs of development, and they should be set as soon as possible so the industry and local governments can accurately weigh the costs vs the benefits of development.


  3. - steve schnorf - Friday, Dec 14, 12 @ 1:17 pm:

    they’ve been fracking in southeast Illinois for a long time, and I’ve never seen or heard anyone consider the term derogatory


  4. - reformer - Friday, Dec 14, 12 @ 1:19 pm:

    One variablr is whether The Speaker permits his targets to vote for it.


  5. - State Worker - Friday, Dec 14, 12 @ 1:40 pm:

    The bottom line on pensions is that the state MUST pay the people who earned their pensions and cut out the spending on people who do not earn anything. Stop the giveaways and pay your bills!!! Pension reform was done in 1995 with the RAMP. Stick to it!!!


  6. - Crime Fighter - Friday, Dec 14, 12 @ 2:18 pm:

    If the Illinois Chamber & Moody’s says so, it MUST be true, they are such reliable sources.(Snnnaaarkkk)


  7. - Small Town Liberal - Friday, Dec 14, 12 @ 3:10 pm:

    - Pension reform was done in 1995 with the RAMP. Stick to it!!! -

    The RAMP is part of the problem, not sustainable.


  8. - Downstate Illinois - Friday, Dec 14, 12 @ 3:14 pm:

    It’s about time someone started publicizing the potential impact of this new wave of development.

    Steve’s right. It’s been called fracking for decades, except the industry doesn’t use a “k” in the spelling since it’s an abbreviated version of fracturing.

    The new part in Illinois is the horizontal drilling, and the combination thereof.

    The problem with the legislation supported by the Speaker this spring is that it made no distinction between the current drilling and the new techniques. They were quite close to killing the proverbial golden goose with high taxes, as well as destroying the existing marginal industry.

    As far as McKay’s comment, they’re not just looking at the New Albany Shale formation. There are other formations and according to the Oil and Gas Assocation it’s clear to them from the ongoing leasing operations that their are other plays taking place as well.


  9. - thechampaignlife - Friday, Dec 14, 12 @ 3:22 pm:

    On pensions, is it possible to recharacterize salaries to only include a percentage of it or max limit on the pensionable amount or possibly recharacterize the entire position to be non-pensionable? I know the U of I has several non-pensionable employee categories such as Academic Hourly so I’m just wondering if the threat of moving positions out of participating in the system would be a constitutional way to force acceptance for a pension change. Not saying it’s fair, just wondering if it’s even an option.


  10. - Rich Miller - Friday, Dec 14, 12 @ 3:24 pm:

    ===Pension reform was done in 1995 with the RAMP. Stick to it!!!===

    An artificial, man-made construct. The ramp wasn’t made by God, but people, and people can change laws whenever they get a majority. It was also needlessly backloaded, which is what is causing the real problem today.


  11. - Thomas - Friday, Dec 14, 12 @ 3:31 pm:

    Doesn’t the Supreme Court’s announcement that they’ll take up gay marriage give legislators who are a little relunctant to vote on this issue an opportunity to ask for a delay? It reminds me of how the GA handled health exchanges last Spring. A lot of members didn’t want to take that vote until the Supremes issued their Obamacare decision. I doubt SCOTUS will legalize gay marriage, but if your in a conservative leaning district why vote to support gay marriage if the Supremes might do it for you?


  12. - State Worker - Friday, Dec 14, 12 @ 3:55 pm:

    Rich - All laws are “an artificial, man-made construct”. I agree it is too steep. What is funny is that in the 70’s the pension systems were funded at about the same level as they are today. Now they call it an emergency??? It has been the same for over 40 years. And, the real problem is that politicians did not appropriate required funds for the pension system choosing instead to spend money on other things that were nice but not necessary.


  13. - PublicServant - Saturday, Dec 15, 12 @ 5:37 am:

    Rich, thanks for pointing out that the pension ramp is “the real problem today”. Not only are the ramp structure’s backloaded payments unsustainable, an additional issue is how the ramp payments are being used by IPI, the Civic Committee, and Quinn to state that the pensions themselves are unsustainable. A new, sustainable amortization schedule needs to replace the current ramp. No more payment deferrals. No more uninformed, illegal pension bills.


Sorry, comments for this post are now closed.


* More spending
* Another oppo dump
* When the "80 percent" argument fails
* Proft poll: Quinn leads 41-39-5
* SUBSCRIBERS ONLY - Today's cable TV buys
* *** UPDATED x1 *** Republicans attempt to frame presidential visit
* Rauner says he'll contribute to "anti-business" president's library
* Today's number: Two-thirds
* SUBSCRIBERS ONLY - Supplement to today’s edition: Congressional crosstabs
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Good morning!
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * Dropbox now allows exporting of files to SD card
        * Wunderlist’s new update brings Dropbox integration
        * Google Play learns what your phone looks like
        * Google Nexus 6 wish list
        * LinkedIn-Owned SlideShare Gets Its First iOS App
        * Spotify Adds CarPlay Support in Latest iOS Update
        * Vertu Aster gets 117-carat 5th gen sapphire crystal screen cover

        * Navdy Raises $6.5 Million for Heads-Up Driving Display
        * Create Nested Folders and Hide Apps in iOS 8
        * Facebook to announce third quarter 2014 results Oct. 28
        * Apple CarPlay Aftermarket Systems Are Now Available Through Pioneer
        * A New Apple Patent Hints at the Future of the iOS Remote
        * Google’s ‘The Physical Web’ Aims to Make the Internet Of Things App-Less
        * Camera51 Finds the Best Angle for the Perfect Shot

        * Guide to National League rooting interests for White Sox fans
        * Third-base coach McEwing to interview for D-backs job
        * Guide to American League rooting interests for White Sox fans
        * Anderson, Edwards prospects to watch in AFL
        * Manager notes: How Robin Ventura and Chris Sale get along
        * Voting underway to decide Hank Aaron Awards
        * Development of young core in '15 can define Chicago's future


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        October 2014
        September 2014
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Major Person in Gov Quinn's Anti-Violence Progr.....
        * Barickman: NRI funding continues after program .....
        * Video: College Republicans Use Wedding Dresses .....
        * Fiscal Policy Report Card on America’s Governor.....
        * Governors Make Fiscal Progress..
        * Local political leaders sense anger preceeding .....


        * Data show Illinois marijuana business competition
        * Truck strikes, killed 3-year-old boy in Decatur
        * Waukegan schools close as teachers' strike begins
        * Nearly 500 flights canceled at Chicago's airports
        * Fire destroys 134-year-old historic Perry church
        * Obama hits Chicago to stump for Gov. Quinn
        * AP PHOTOS: Lines linger for famed Chicago hot dogs
        * 20-years in prison for hit-run crash that killed 2
        * Official: Donations drying up for Lincoln library
        * Respiratory virus seen in 4 deaths; role unclear

        * Obama in Chicago raising campaign cash for Quinn
        * Governor candidates’ views on Obama library evolve
        * Obama in Chicago for political appearances
        * Donations drying up for Lincoln Presidential Library foundation, chairman tells lawmakers
        * ALPLM at center of legislative hearing in Chicago
        * Former head of anti-violence program to testify
        * Appellate court: State workers owed back wages
        * Quinn leans on top Democratic support — Obamas, Clinton
        * IDOC investigation prompts state prison warden to retire
        * Lawmaker panel plans to resume anti-violence program investigation

        * Here's why Chicago-area flight control sabotage was so devastating
        * Hundreds of Chicago flights canceled as bad weather moves in
        * Chicago canceled flights near 750 due to weather, last week's sabotage
        * Warren Buffett wants to sell you a car
        * Sears to sell most of Sears Canada stake


        * Tragedy demands review of DCFS
        * Ease up on school budgets permanently
        * Keep the heat on political corruption
        * Burge leaving prison, but a mess remains
        * Emanuel prods sister agencies to mandate $13-an-hour wage
        * The thug life runs deep
        * Vigil held for Skokie teens; two Niles North seniors shot, one killed
        * Taxi reforms steer in the right direction
        * Thunderstorms early Thursday could disrupt O’Hare, Midway flights
        * Northeastern Illinois University unveils flashy new building on NW Side


        * Woman held in sister's death was also charged in 2001 slaying
        * Nearly 500 flights canceled at O'Hare, Midway as storms approach
        * Police: Man barricaded in Bartlett plant, claims to have bomb
        * Arrests in theft of $250,000 worth of watches from Gold Coast store
        * Police investigate shooting death at Des Plaines gun range
        * Neighbors lose a protector to a street robbery
        * Coyote expected to recover after getting stuck in car grill
        * Burge leaves prison today after serving time for lying about police torture
        * Prosecutors in Ferguson case probe report of jury misconduct
        * 5 wounded in separate city shootings


        * After A Prisoner Escapes
        * History Series: The First Illinois Legislature
        * Donations Drying Up For Lincoln Library Foundation
        * LLCC Announces New Ag Programs
        * Tim Landis: Bike Lanes, Medical Marijuana And Meat
        * Clock Ticking On Illinois Prison Crowding
        * Decatur Unemployment Shows Biggest Drop In Nation
        * Quinn Lauds Affordable Care Act, Backs Down From State Marketplace
        * A Redo On Redistricting
        * Polls Showing Illinois Governor's Race A Draw


        * Obama in Chicago raising campaign cash for Quinn
        * Our View: Lawmakers, stay away from the IHSA
        * On Lincoln’s Side: Lincoln gambles on Nevada
        * Brian Gaines: Why Illinois needs redistricting reform
        * George Will: A new case for term limits
        * Eugene Robinson: Get the authorization
        * Bernard Schoenburg: The long, short of public perceptions of candidates for governor
        * Governor candidates’ views on Obama library evolve
        * Obama in Chicago for political appearances
        * Donations drying up for Lincoln Presidential Library foundation, chairman tells lawmakers


        * Film capsules, Oct. 2, 2014
        * Rantoul man faces DUI charges in August crash
        * Clubs listings, Oct. 2-9, 2014
        * Chuck Koplinski: Identity issues propel super mystery 'Gone Girl'
        * Trio bringing contemporary Celtic music to Upper Bout
        * Music Q&A: Rob Compa of Dopapod
        * Myths, reality tell tales of homeless
        * Fire destroys historic Perry church
        * Directing 'Leading Ladies' a fun challenge
        * Entertainment lists, Oct. 2-9, 2014


        * Wayfair gains in debut after online furniture retailer's ipo
        * Faceoff in Hong Kong: 3 sides, all with options
        * Hong Kong police warn protesters not to charge buildings
        * Texting apps required gear for Hong Kong protests
        * BC-US--Supreme Court-Headscarves, 1st Ld-Writethru,488 Court takes up hear religious bias case over hijab

        * Representative Jan Schakowsky Sends Letter...
        * Rep. candidate pushes to uphold marriage b...
        * Reps. Schakowsky and Waxman Introduce Bill...
        * Statement by Representative Jan Schakowsky...
        * FAA Rejects Call For New O'Hare Noise Stud...
        * Representatives Quigley, Duckworth, Schako...
        * Representative Jan Schakowsky Statement on...
        * Representative Jan Schakowsky Statement in...
        * U.S. House Passes Resolution Condemning An...
        * Representative Jan Schakowsky Statement on...

        * Sen. Dick Durbin: Elimination of earmarks ......
        * Sen. Dick Durbin: Elimination of earmarks ......
        * Sen. Dick Durbin: Elimination of bills’ ea......
        * Durbin: Reid Sounded Good in Call From Hos......
        * Durbin: Reid Sounded Good in Call From Hos......

        * Obama to raise money for Quinn, speak at N......
        * Governor race focuses on labor, unemployment...
        * Israel On The Outs Over Iran?...

        * The Weekend Desk Report
        * The Age Of Chicago's Poverty
        * Six great ways to enhance your personal safety
        * Illinois REALTORS® talk about creating safety awareness after Arkansas agent’s death
        * Kaifesh captures Illinois congressional endorsements
        * New Obama EPA regulations mean higher energy prices for Illinoisans
        * Schilling proposes five health care solutions
        * Where's Weyermuller? At Myalls vs. Fine 17th House District Debate
        * Central Illinois Republican Mayor featured in new Quinn campaign ad
        * Mainstream environmentalists flip out over stingray catch [video]


        * Screwed Up
        * Jobs Governor
        * Wake Up
        * Rauner Launches Three New TV Ads
        * Quinn must take lame duck tax vote off the table




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller