We talk all the time about the future benefits of natural gas: the energy security potential that would come with increasing the use of natural gas vehicles or the rebirth of manufacturing in the U.S. made possible by affordable natural gas. But there are benefits being realized right now by natural gas customers throughout the nation.
A typical residential customer saved more than $175.
The average commercial customer saved more than $1,100.
We have released a study entitled “Identifying Key Economic Impacts of Recent Increases in U.S. Natural Gas Production” which credits the recent success of shale gas production in the United States for lower natural gas commodity prices which have translated into huge savings for residential and commercial customers. Low domestic natural gas prices have led to savings of almost $250 billion for natural gas customers over the past three years.
The report also details the employment impacts associated with shale basin development. Job creation directly tied to energy extraction and delivery accounted for about 150,000 new jobs in 2011, or about nine percent of all new U.S. jobs that year. In 2010, it was estimated that shale gas alone had almost 150,000 people directly employed in the shale gas extraction activity.
Jobs that provide goods and services to the shale industry totaled 194,000 in 2011. States such as Pennsylvania and Texas have seen some of the biggest gains.
“These crucial economic impacts can be sustained if we continue responsible and sustainable development of natural gas resources and work to include natural gas as a foundational component to lower carbon energy solutions in our future,” said AGA President and CEO Dave McCurdy.