Report: NY Senate fracking backer tied to firm with gas lease

By WBNG News

Report: NY Senate fracking backer tied to firm with gas lease

May 9, 2013 Updated May 9, 2013 at 12:57 PM EDT

(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.

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