Do tell. The industry-financed study by the expert shills up at Walton University (meant to blunt the drive for a severance tax) overstated the impact of the Fayetteville shale exploration on state tax revenues.

Ernest Dumas previously did some debunking of this for us.

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Even if gas company expenditures and gas sale revenues exceed original forecasts in Arkansas, that doesn’t mean taxes will be paid on the overly generous formula used by the shills. The impact will be positive, economically, of course. The severance tax will help. The future will tell about costs.