Shale Study Shows Consumers Have Saved Billions

Whether we're talking about the creation of 600,000 new jobs, the lowering of carbon emissions, the lessening of our dependence on foreign energy, or the nearly $250 billion in savings for natural gas customers—the development of natural gas from shale is reinvigorating our nation, and giving a boost to our economy while it's at it.

And with development occurring right now in more than two dozen U.S. states — from Ohio's Utica shale to south Texas's Eagle Ford play — it's no surprise that the benefits of responsible production are being felt across the nation.  But according to a new report by the American Gas Association (AGA), the impact of natural gas development on the pocketbooks of American consumers may be a lot more remarkable than even we had previously thought.

As AGA highlights in its new report, states actively developing their own natural gas resources have seen record-breaking production while creating thousands of jobs and economic benefits in their wake. And as a result of this increased production, America's economy is back on its feet, creating savings, revenues, and jobs along the assembly line.  According to AGA, production has led to:

  • Savings of almost $250 billion for end-use natural gas customers over the past three years,
  • $175 in savings for an average residential customer in 2010,
  • $1,100 to the average commercial customer in 2010,
  • And the creation of 334,000 jobs in industries reliant on natural gas over the past two years.

As AGA points out: "Not only do these savings benefit the gas customers, but there is a ripple effect on the economy when consumers spend some of these savings." While savings increase at home, Americas manufacturing base has rebounded, capitalizing on an inexpensive, abundant, and clean-burning resources, while putting people back to work and keeping industries in the U.S.

With shale development placing prosperity on our nation's doorstep once more, communities across the country – from the Marcellus to the Eagle Ford – are finding new opportunities to benefit from natural gas production. As studies from IHS CERA, Pricewaterhouse Coopers, Penn State, MIT, IEA and others have highlighted before, the nation sits upon a "golden" age of natural gas, with countless opportunities surrounding development at every turn.