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TaxesLocal chamber groups in the heart of the Fayetteville Shale have joined to show their opposition to raising the natural gas severance tax.

By early February, 10 economic development groups in 6 northwest and northcentral Arkansas counties passed matching resolutions that oppose the 7% severance tax increase Sheffield Nelson has proposed. Nelson was the state’s GOP gubernatorial candidate (1990, 1994) and is former CEO (1972–1988) of Arkansas Louisiana Gas Company, now CenterPoint Energy.

The identical chamber resolutions state that raising the tax will “take hundreds of millions of dollars out of local economies,” make Arkansas’ rate “among the highest in the country,” and “threaten Arkansas’ ability to compete for natural gas drilling capital and the resulting jobs.”