(WBNG Binghamton) According to a report from Bloomberg.com on Thursday, New York state senator Tom Libous is blocking a bill that would delay hydraulic fracking for two more years, when passage of the bill would potentially harm a real-estate company that is run by a business partner and campaign owner.
According to the Bloomberg report:
The donor, Luciano Piccirilli operates Da Vinci II LLC, which owns 230 acres near Oneonta, west of Albany. Da Vinci II’s rights to underground natural gas are leased to a drilling company, property and corporate records show.
Piccirilli’s company stands to gain if the 60-year-old Binghamton Republican senator stymies opponents of fracking, in which water, sand and chemicals are injected into rock to free gas. Da Vinci II would get a share of the revenue stream from any well, and the value of the land could rise.
Read the report from Bloomberg.com HERE.