Gas Boom Mints Instant Millionaires, Others Not So Lucky
1 min readTOWANDA, Pa. (CNNMoney.com) — In the hills of northwest Pennsylvania, the boom in natural gas production turned mechanic Chris Sutton into a millionaire practically overnight.
Sutton recently leased his 154 acres of land on the Marcellus Shale to Talisman Energy for a $900,000 up front check, plus a 20% cut of the revenue of the natural gas extracted from his land.
A half hour away it’s a very different story. Truman Burnett’s retirement home is ruined: His pond is contaminated by a drilling accident on land owned by a neighbor and his well water is undrinkable.
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And Truman is the septic officer of Ross Township! I hope that enough rules are in place to protect Ross Township from the Gas Drilling if they come here!