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New York Fracks No More

|Includes: The United States Natural Gas ETF, LP (UNG)
There has been backlash from a number of states who are not so accepting of the method of fracking to extract natural gas. One state that stepped up and is no longer allowing it is New York. Other states have considered it, but New York has made the first move. What exactly does this mean for the natural gas industry in the state?

"The good thing is, the nation doesn’t need New York’s gas; New York doesn’t even need New York’s gas, with plentiful volumes available next door in Pennsylvania.

The plunge in New York gas comes at a time when gas output is booming in the rest of the country. Nationwide, since 2007 shale gas production has soared from 1.3 trillion cubic feet to more than 4 tcf a year. Daily gas output has surged to a record 79 billion cubic feet a day."

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