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Tax on drilling could bring Ohio income-tax cut

10:34 AM, Mar 5, 2012   |    comments
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COLUMBUS -- Newspapers say Ohio Gov. John Kasich is preparing to unveil a new energy policy this week that taxes a form of oil and gas drilling and uses the proceeds to deliver an income-tax cut.

The Plain Dealer reported Monday that public documents indicate Kasich's complicated plan also makes changes to various existing petroleum taxes and gives a tax break to some smaller operators.

The proposal would tax natural gas liquids trapped below the state in the Marcellus and Utica shale plays. That butane, ethane and propane is reached through hydraulic fracturing, a drilling technique that involves blasting chemical-laced water deep into the earth to create fractures.

The Columbus Dispatch reported details of the plan.

The Associated Press

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