Capitol Fax.com - Your Illinois News Radar » But…
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.


* Drury says Rauner and Madigan don't want a budget
* Cullerton to Rauner: Don't give up on a deal
* Countdown to ultimate crisis begins
* *** UPDATED x2 *** Rauner threatens endless special session
* Negative mailers land in House Democratic districts
* Question of the day
* *** UPDATED x1 *** Rumor patrol: Dumpster edition
* The House Democratic perspective
* Rep. Brady to Rauner and Madigan: Back the heck off
* We really are horrible at this governing thing
* Did Madigan really make a "demand"?
* *** UPDATED x1 *** State gets a brief reprieve
* Illinois still has unpaid bills from July of 2015
* A game of tax hike chicken
* Durkin to Madigan: Have your fun, then get back to work
* IMA says HDem workers' comp bill could increase costs
* Radogno doesn't anticipate a term limits vote today
* *** LIVE *** Special session coverage
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

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

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

...............
<


Loading


* Metra CEO Alex Clifford - Illinois News Network..
* Budget hopes dim as Illinois House property tax.....
* Rauner threatens to keep lawmakers in Springfie.....
* Rauner Threatens to Prolong Special Session If .....
* As negotiations drag on, Rauner and Madigan go .....
* Bernard Schoenburg: Rauner looks to high court .....
* Budget hopes dim as Illinois House property tax.....
* Rauner, Madigan talk 'compromise' while doing l.....
* Budget hopes dim as Illinois House property tax.....


* Budget hopes dim as Illinois House property tax freeze fails
* The Latest: Comptroller paints dire picture without budget
* Cubs see Trump in second White House trip since World Series
* Illinois universities in jeopardy of losing accreditation
* Woman admits to theft from minor league baseball team owner
* NIU board of trustees faces lawsuit over president severance
* Excerpts from recent editorials in newspapers in Illinois
* Top officials unaware pipeline security operated illegally
* Police charges show challenge of confronting code of silence
* Correction: Gangster Auction story

* Illinois universities in jeopardy of losing accreditation
* Rauner threatens to keep lawmakers in Springfield if no budget by Friday
* Auditor general told to investigate Springfield warehouse lease
* Bishop Paprocki: Upholding church teachings is my job
* One day, one agency and $22 million in local bills
* Lawmakers direct auditor general to investigating Springfield warehouse lease
* Grosboll named Menard state's attorney; Tippey to be judge
* Illinois tells court it can't pay much more for Medicaid
* House Democrats outline budget, will vote Wednesday on pension reform
* Lawyers: Talks on unpaid Illinois Medicaid bills at impasse

* Chicago's wealth divide
* Staying in town over the 4th? We've got you covered
* From a T-shirt company to a multimillion-dollar art purveyor
* Madigan finally makes his budget move
* Maddon says Cubs making informal trip to White House


* Australian police charge a top Vatican cardinal with sex offenses
* Kris Bryant leaves game with leg injury
* George Ryan’s solution to state budget woes: constitutional convention
* CPS sued over teapot mishap that scalded boy at Old Town school
* Sanchez all over the place in White Sox lineup
* 79-year-old man with dementia missing from Jefferson Park
* Sheriff and feds bust 3 reputed brothels in Chicago area
* 23-year-old man seriously wounded in West Woodlawn shooting
* 15-year-old girl missing from Bronzeville
* Road to recovery runs through Chicago for veterans in Warrior Games


* In dumping Miguel Montero, Cubs look to shore up clubhouse culture
* Hobart father appears in court on charges from daughter's death
* Emanuel splits with City Hall watchdog on court oversight of police reform
* At least 6 injured in Chicago shootings
* Pope Francis' top financial adviser charged with sex offenses in Australia
* Rauner, Madigan talk 'compromise' while doing little of it
* Portage mayor's bribery trial pushed again; 'more materials will be forthcoming from the government'
* Emanuel to go it alone on pension contributions as Rauner opposes his favored plan
* McConnell wants to revise Senate health care bill by Friday for new CBO score
* Cubs' Kris Bryant leaves game with right ankle injury


» LA City Council OKs Plans For George Lucas Museum Once Slated For Chicago
» Trump Meets With Cubs At White House
» Illinois Universities In Jeopardy Of Losing Accreditation
» Democrats Introduce Spending Plan
» Illinois Lawmakers Scramble To Approve Budget By Saturday
» FBI Locates Car Related To Missing Chinese Scholar Case
» 3 Chicago Police Officers Indicted In Laquan McDonald Case
» Lawyers: Talks On Unpaid Illinois Medicaid Bills At Impasse
» As Negotiations Continue, Both Sides Ask: Will It Be Enough?
» Mystery Of Missing Chinese Scholar Shakes Up Illinois School


* Bernard Schoenburg: Rauner looks to high court for 'transformative' changes
* Our View: Lawmakers must ensure funding for 911 centers continues
* Illinois universities in jeopardy of losing accreditation
* Rauner threatens to keep lawmakers in Springfield if no budget by Friday
* Auditor general told to investigate Springfield warehouse lease
* Bishop Paprocki: Upholding church teachings is my job
* One day, one agency and $22 million in local bills
* Lawmakers direct auditor general to investigating Springfield warehouse lease
* Grosboll named Menard state's attorney; Tippey to be judge
* Illinois tells court it can't pay much more for Medicaid


* Frost Bakery dropping storefront, moving to Jacoby Arts Center
* Rauner says he won’t support 911 authorization bill as deadline nears
* PHOTOS: Recycled Art Camp in Decatur
* Budget hopes dim as Illinois House property tax freeze fails
* PAWS building project hits a bump
* Wood River roots; museum celebrates 20 years with open house
* Possible gas leak explosion at Murray State University dorm
* Madison County police news, June 28
* South Roxana man charged with possession in 4th meth case
* Lottery win makes Davenport woman $100,000 richer


* Montero's demotion another chapter in Cubs' 'slog'
* Recker resigns from District 211 school board
* Imrem: Montero gave Chicago Cubs no choice, but it won't cure their ills
* The Latest: Suspected shooter of deputy has criminal record
* Tornado watch until midnight as severe storms move through

* Randy Hultgren: US should remain on UN cou...
* Rep. Randy Hultgren constituents decry sec...
* Hultgren backs Trump; suburban Democrats d...
* Facts And Science Deserve Attention - WNIJ...
* Hultgren pushes for job training, educatio...
* Fundraiser, protest set for Illinois GOP r...
* Hultgren pushes measure to protect veteran...
* Rep. Randy Hultgren fields questions at Le...
* Students from St. Charles, Batavia among c...
* Duckworth Calls Republican Healthcare Bill...

* Daily Recap: June 28th, 2017 - TRUNEWS...

* Bill to shield EPA during appropriations a......
* Veterans need Medicaid, too—and are speaki......
* Sen. Tammy Duckworth destroys Trump nomine......

*
* So long, Peerless Potato Chips
* Travis Richardson website goes live, July 13 fundraiser set
* Illinois Home Education Makes the Grade
* Rauner threatens to keep IL General Assembly in extended special session
* Buttercup Park Wins $1,000 Grant to "Pollinate Peace"
* The Portuguese movie The Ornithologist is a strange and beautiful journey into the unknown
* West Chesterfield on the recent Walgreen's closure in the neighborhood
* Summer Food Programs For Children Ages 1-18
* Illinois Tea Party shows spark of life in face of another income tax hike


* Illinois Awarded Funds to Offer Advanced Training on Detecting Impaired Driving
* Illinois EPA Announces Upcoming Household Hazardous Waste Collection Events
* IEMA Highlights Emergency Preparedness for People with Access and Functional Needs in May - Ready Illinois website offers preparedness tips for people, caregivers
* First Lady Launches Illinois Family Connects
* Governor and Lt. Governor Unveil 2016 Journal of Local Government Shared Service Best Practices

  
* Qualcomm Snapdragon 450 launched at MWC Shanghai 2017 event
* OnePlus 5 vs iPhone 7 Plus: Follow or Lead the Way? (Video)
* Verizon executive makes hay out of T-Mobile outage
* iPhone 8 keeps Lightning, adapts to USB-C with 10W charging
* Apple Reminds Developers About 64-Bit Requirement for iOS and Mac Apps, Releases WWDC 2017 Transcripts
* Apple's iCloud Backup Service Experiencing Outage
* 'Bang! The Bert Berns Story' Coming Exclusively to Apple Music This Fall

* Smith's first career walk sparks wild rally
* Stars, ACE athletes come out for Sox Serve
* Rodon opposes Tanaka, Yanks in first '17 start
* Jose Quintana stokes trade market
* White Sox Minor League Update: June 27, 2017
* With stellar June, Quintana regains ace form
* Abreu's heroics in 9th lift Sox over Yanks


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

Archives
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
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




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