Gov. Cuomo's passivity on fracking hurts N.Y. drillers, exec says

12/29/2013 | TheStreet.com

New York Gov. Andrew Cuomo's indecision on lifting the hydraulic fracturing moratorium has left drillers jobless and service companies looking to other states, said John Holko, president of Lenape Resources. Even if Cuomo allows fracking, energy companies are still cautious to invest in drilling in the state as "the cost of regulatory compliance could be up to $1 million more per well than in Pennsylvania," said Brad Gill, president of the Independent Oil and Gas Association of New York.

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