The incredible impact of natural gas on Ohio and the U.S.
Recently, the Consumer Energy Alliance issued a report about the benefits of the shale revolution for the people of Ohio. The report "highlights how domestic shale development saved Ohio consumers more than $40 billion from 2006 to 2016 by driving down natural gas prices. Thanks to prolific natural gas production in the Appalachian Basin, the region now boasts the lowest natural gas prices in the world — and at the end of the day, that means billions in savings to natural gas consumers.”
The full report can be found at this link.
The CEA study is the most recent of a number reports showing the value of the shale in the Appalachian Basin (Utica and Marcellus shale in Pennsylvania, Ohio, and West Virginia). Here is a short list of the studies:
1. 2018 CEA study revealing $40 billion of savings for Ohio consumers from 2006-2016 resulting from lower natural gas prices,
2. 2017 JOBS OH / Cleveland State study indicating that there has been $63.9 billion of shale related investment in Ohio from 2011 through June 2017. A summary of this study can be found here. Of the $63.9 Billion, $46.8 Billion was drilling and exploration, $13.6 billion for midstream activity and $3.5 billion for downstream activity (mostly new gas fired power plants).
3. 2017 Energy in Depth and OOGA study revealing that oil and gas companies had spent over $300 million on local Ohio roads pursuant to Road Use Maintenance Agreement with Ohio Counties impacted by the natural gas industry. A copy of the report can be found here.
4. 2017 Energy in Depth and OOGA study revealing that oil and gas companies paid $43 Million in local SE Ohio property taxes from 2011–2015 and are projected to pay $200–250 Million from 2016 to 2026. All of these dollars go to local government and local schools. A copy of the report can be found here.
5. 2017 study by the Breakthrough Institute showing how the switch from coal to natural gas is leading the decarbonization of the electric grid. That study can be viewed here.
Natural gas is transforming our region and country with billions of dollars of investment, billions of dollars of savings for consumers, hundreds of millions of dollars of new roads and tens of millions of dollars of new local tax revenue. All this while reducing the carbon footprint of our electric generation. The best may be yet to come as the downstream sector begins to expand. This could lead to thousands of high-paying new jobs. It has never been a better time to be involved in the energy sector.
The full report can be found at this link.
The CEA study is the most recent of a number reports showing the value of the shale in the Appalachian Basin (Utica and Marcellus shale in Pennsylvania, Ohio, and West Virginia). Here is a short list of the studies:
1. 2018 CEA study revealing $40 billion of savings for Ohio consumers from 2006-2016 resulting from lower natural gas prices,
2. 2017 JOBS OH / Cleveland State study indicating that there has been $63.9 billion of shale related investment in Ohio from 2011 through June 2017. A summary of this study can be found here. Of the $63.9 Billion, $46.8 Billion was drilling and exploration, $13.6 billion for midstream activity and $3.5 billion for downstream activity (mostly new gas fired power plants).
3. 2017 Energy in Depth and OOGA study revealing that oil and gas companies had spent over $300 million on local Ohio roads pursuant to Road Use Maintenance Agreement with Ohio Counties impacted by the natural gas industry. A copy of the report can be found here.
4. 2017 Energy in Depth and OOGA study revealing that oil and gas companies paid $43 Million in local SE Ohio property taxes from 2011–2015 and are projected to pay $200–250 Million from 2016 to 2026. All of these dollars go to local government and local schools. A copy of the report can be found here.
5. 2017 study by the Breakthrough Institute showing how the switch from coal to natural gas is leading the decarbonization of the electric grid. That study can be viewed here.
Natural gas is transforming our region and country with billions of dollars of investment, billions of dollars of savings for consumers, hundreds of millions of dollars of new roads and tens of millions of dollars of new local tax revenue. All this while reducing the carbon footprint of our electric generation. The best may be yet to come as the downstream sector begins to expand. This could lead to thousands of high-paying new jobs. It has never been a better time to be involved in the energy sector.
