New Jersey Frack Ban legislation is going to Governor Chris Christie’s desk and he is expected to veto the legislation and offer a compromise with a proposed five year ban. I imagine the state will soften up to the idea after other states get the house and order. New Jersey will want the jobs created by the oil & gas industry as much as the next guy.
The concern as mineral owners is when and if ever you’ll recognize the value of the Marcellus Shale below your property.
Gov. Chris Christie on Thursday is expected to conditionally veto legislation that would make New Jersey the first state to ban the controversial practice of so-called fracking as a way to drill for gas.
The governor is expected to propose the Democratic-controlled Legislature amend the proposal to set a five-year moratorium on the drilling method, according to sources familiar with the issue.
The fracking ban bill (S-2576) was approved by the Legislature in June in response concerns raised by New Jersey environmentalists about potential pollution and public safety issues stemming from fracking. Anti-fracking and environmental groups plan to react to Christie’s action in a press conference set for the Statehouse early Thursday afternoon.
Read full news release at newjerseynewsroom.com