Oil and Gas Today with Chris Faulkner – Podcast #535

Pittsburgh International Airport is on the ropes…..financially.  Built in 1992, as a hub for U.S. Air, it was designed to move 30-million passengers a year.  But after 9-11, the recession, and U.S. Air pulling the hub out, PIT barely sees 8-million travelers a year now.

That’s taken a big financial toll.  But thousands of feet BELOW the runways lies the Marcellus Shale, one of the richest natural gas formations in the world.  And the airport is cashing in.  First, $50-million dollars to lease the land….then when the 47 initial wells are completed, the airport should see another $20 million a year in royalty income.

This is happening all over America, where communities are OPEN to fracking.  It is a safe technology or Pittsburgh International wouldn’t have anything to do with it.

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