Americans for Prosperity Applauds House for Passing SB 786

May 29, 2014 by AFP

North Carolina Can Now Enter 21st Century of Energy Development

RALEIGH – Americans for Prosperity – North Carolina today applauded the State House for passing Senate Bill 786, the Energy Modernization Act, which ends the state moratorium on  hydraulic fracturing.

“The North Carolina General Assembly is moving North Carolina into the 21st century of energy development by finally passing legislation to open our state to natural gas extraction,” explained John Dudley, the NC State Director of Americans for Prosperity. “Passing Senate Bill 786 will allow entrepreneurs to tap into the natural gas resources currently sitting dormant and use it to create jobs and low-cost, efficient energy. We urge the Senate to quickly vote on concurrence.”

The House passed the bill by 63 to 52 votes. The Senate passed the bill last week with bi-partisan support. Tomorrow the bill goes for it’s third and final reading in the House before going back to the Senate for concurrence.

Economist Mike Walden of N.C. State University found that natural gas well and drilling operations would create about $80 million in economic activity and sustain, on average, nearly 500 jobs a year. The legislation requires the Oil and Gas Commission to create responsible rules for safe, environmentally friendly extraction of the state’s natural gas reserves.

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