"N.Y. Senate Fracking Backer Tied to Firm With Gas Lease"

"Senator Tom Libous, a champion of fracking in the New York Legislature, is blocking a bill that would delay drilling for natural gas for at least two more years. Passage of the measure would harm the prospects of a real-estate company founded by Libous’s wife and run by a business partner and campaign donor."

"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."

Freeman Klopott reports for Bloomberg May 9, 2013.

Source: Bloomberg, 05/10/2013