Drop in oil prices likely to affect debate over Ohio severance taxes

The drop in oil prices will likely affect debate in the Ohio Statehouse this year over taxing and regulating the oil and gas industry as the future of Ohio's young shale boom becomes more uncertain, reports Gongwer Ohio. Tom Stewart, principal at Oilfield Policy Advisors LLC, and Chris Zeigler, executive director of the American Petroleum Institute Ohio, told Gongwer that low oil and natural gas prices will make it more difficult for Governor John Kasich to follow through on his effort to raise the state’s severance tax on oil and gas production. Kasich’s latest proposal is expected to emerge when the governor unveils his two-year executive budget in February.