UPDATE: WV leaders applaud possible energy company expansion - WBOY - Clarksburg, Morgantown: News, Sports, Weather

UPDATE: WV leaders applaud possible energy company expansion

Posted: Updated:
  • EnergyEnergyMore>>

  • Many WV coal counties losing revenue

    Many WV coal counties losing revenue

    Monday, August 8 2016 10:15 AM EDT2016-08-08 14:15:05 GMT

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

UPDATE:

Gov. Earl Ray Tomblin said the state has worked hard to make the most of the Marcellus and Utica Shale developments, with the Dominion announcement no exception to leaders remaining optimistic about future industry opportunities.

“We continue to be optimistic about the existing and future opportunities this industry brings to the Mountain State, and today's announcement by Dominion has the potential to create good-paying jobs for our hard-working men and women," Tomblin said in a news release. "We appreciate the continued investments Dominion is making in our region and look forward to capitalizing on our state's abundant supply of natural gas, which has the potential to provide promising opportunities for both current and future generations. West Virginia is proud to continue its legacy as an energy-producing state and help create energy independence for our country.”

Original Story:

House Speaker Tim Miley, D-Harrison, said the announcement of four major energy companies partnering to build a proposed natural gas Atlantic Coast Pipeline is another step toward expanding West Virginia's economy.

Noting the thousands of jobs soon to be created and millions in state revenue generated, Miley said the plan is an aggressive step forward.

Four major U.S. energy companies – Dominion, Duke Energy, Piedmont Natural G and AGL Resources – announced Sept. 2 the formation of a joint venture to build and own the proposed Atlantic Coast Pipeline.

The $4.5 billion to $5 billion, 550-mile natural gas pipeline would run from Harrison County (the county Miley represents in the West Virginia Legislature) southeast through Virginia with an extension to Chesapeake, Virginia, and then south through central North Carolina to Robeson County.

“The growing Marcellus Shale industry is rapidly becoming an important factor in West Virginia's economic future, and this pipeline, which carries such great promise, is fantastic news – a great opportunity to continue drilling for gas and transporting it around the country,” Miley said. “This expanded distribution network will have a positive impact on the natural gas industry, from the largest gas producers to the small royalty owners, but more importantly, bring revenue to West Virginia taxpayers.”

Powered by Frankly