Drilling for natural gas in Pennsylvania – particularly the Marcellus shale – remains robust, according to Katie McGinty, the head of Pennsylvania’s Department of Environmental Protection.
Coming on Friday’s Mad Money to clear up misconceptions that natural gas drilling has hit environmental roadblocks in her state, McGinty said that the gas companies are rising to the challenge of responsible drilling, taking advantage of Pennsylvania’s abundant natural gas resources.
Just how drill-friendly is the Keystone State? In the last three years, the Rendell administration has issued 25,000 new oil and gas permits. This year alone, McGinty estimated that the state has given out 130 permits just for work in the Marcellus Shale.
Natural gas remains the future of energy, Cramer said. All the relevant stocks – from Chesapeake to El Paso to Devon – should still be bought.
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