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Poland delays shale tax

6:28 AM MDT | June 7, 2013

Poland has planned to delay a tax on shale gas exploration until 2020 after several foreign energy companies, including ExxonMobil and Marathon, decided to stop exploration there. “The law on hydrocarbon taxes will come into force in 2015, but taxes will not be collected until 2020 to encourage investors,” says Jacek Rostowski, Poland’s finance minister. Poland wants to become the European Union’s biggest producer of shale gas and to cut its dependency on gas from Russia. But estimates of Poland’s shale gas reserves have been cut, and initial drilling...

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