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FRIDAY: Morning ...
House Committee Delays Fracking Vote
An Illinois House committee has decided to delay voting on a measure that would regulate hydraulic fracturing, or fracking. The House Revenue and Finance Committee was supposed to meet this morning.
Fracking allows tapping into deep oil and gas reserves. Supporters say the bill would regulate high-volume gas and oil drilling, while groups opposed to fracking say it would damage the environment.
On Thursday, the committee agreed on fees and taxes drillers would pay.
Industry operators would pay $13,000 per well and a 3 percent barrel tax during the first two years. The taxes would go up later on.