Fracking's Latest Frontier: Regulation And Taxation
June 14, 2012, 1:06 PM EDT
Law360, New York (June 14, 2012, 1:06 PM EDT) -- Most of central and southern Illinois sits above the New Albany Shale, a large geologic formation that is rich in natural gas deposits. It is estimated that there is at least 11 trillion cubic feet, and as much as 86 trillion cubic feet, of natural gas within the New Albany Shale that could be recovered by hydraulic fracking.
To put this in perspective, the entire United States consumes approximately 22 trillion cubic feet of natural gas each year. Illinois’ share of this yearly consumption is approximately...