Poland Shale Boom Falters as State Targets Higher Taxes: Energy
This article is for subscribers only.
Poland’s shale gas boom is threatened even before it gets started after some wells failed and the government sought to increase taxes on profits.
Of 39 wells planned for 2013, just two were drilled by May, Environment Ministry data show. The government plans to require that explorers take a state-run company as a production partner. It has also proposed raising taxes to almost 80 percent of profit, according to Ernst & Young estimates. The measures, announced in October, haven’t become law.