Marcellus Money Yields $88 Million Gift to Penn State
The Post-Gazette reports that Terry Pegula, who recently sold his company that was drilling for natural gas in the Marcellus Shale, donated $88 million to Penn State University to build a hockey arena and establish a hockey program.
To be honest, I didn’t know Penn State didn’t already have a hockey team. But then again, I think poker is a more legitimate sport than hockey.
I’m sure that advocates of a natural gas severance tax will claim this philanthropy was a poor use of money and won’t benefit
the special interests they support residents. Instead, they will argue, state government should take that money and use it more effectively to stimulate the economy. You know, like to build sports stadiums, which Pennsylvania taxpayers have spent $1 billion on over the last ten years.