Experts Dispute Governor's Energy Claim

Aug 3, 2012

Experts interviewed by The Associated Press say Ohio Governor John Kasich's claim that a single energy company could recover 1 trillion dollars worth of oil and gas from the state's shale formation is an exorbitant overestimate. At current oil prices, that figure represents more than four times the worth of all U.S. production last year. Arthur Berman, a Texas-based petroleum geologist and independent energy consultant, say Kasich is  "probably wrong by a couple of zeroes."  Kasich traces the trillion-dollar figure to a conversation with an energy company CEO. He has repeated the number often in local and national television interviews and in public appearances. Kasich wants to raise the tax on oil and gas drillers to fund an income tax cut. He faces opposition from the well-funded energy industry and some fellow Republicans in the state Legislature.