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Report: Ohio Consumers Saved More Than $40 Billion over 10 Years from Lower Natural Gas Prices

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Consumer Energy Alliance Examines Benefits of Energy Production to
Ohio's Families, Small Businesses and Manufacturers in New Report

Thanks to increased production and new technologies, which have
decreased the price of natural gas, Ohio energy consumers saved more
than $40.2 billion between 2006 and 2016, according to a new report
released today by Consumer
Energy Alliance
(CEA).

Residential users saved almost $15 billion, while commercial and
industrial users saved upwards of $25.3 billion, the report, titled "The
Benefits of Ohio's Natural Gas Production to Energy Consumers and Job
Creators
," said. The analysis examined how the shale
revolution across the Marcellus and Utica region has provided benefits
to Ohio's energy consumers by boosting disposable income and
revitalizing communities.

CEA's report examines the benefits of Ohio's energy production and its
role in providing reliable and affordable energy that keeps the lives
and the businesses of Ohio moving. CEA continues to strongly support the
development of natural gas and other traditional and alternative energy
sources while urging policymakers in Ohio to embrace the benefits and
growth potential that Ohio energy production brings to families, farms,
and factories across the state.

Highlights from the report include:

  • Due to increased production and new technologies, Ohio natural gas
    consumers have saved over $40.2 billion between 2006 and 2016 simply
    because of the decreasing price of natural gas, with residential users
    saving almost $15 billion, while commercial and industrial users saved
    upwards of $25.3 billion.
  • Prior to the shale revolution, prices for natural gas in Ohio peaked
    at $10.66 and has steadily decreased to just under $4.
  • After Ohio gas prices peaked at an average of $4.15 per gallon in
    2011, increases in shale oil production helped prices fall to some of
    their cheapest marks in 10 years. In one year alone, AAA found drivers
    saved $115 billion, an average of $1,100 per household.
  • In the last seven years, shale-related industry employment increased
    7.8 percent, employing over 389,000 Ohioans. Average wages across
    shale-related industries also increased to $98,613 – over $49,000
    greater than the average for all industries in the state.
  • More than 700 new businesses have been established statewide to
    support the shale industry, bringing in over $63.9 billion in new
    investments.[i] These businesses invested in all aspects of
    shale energy, from production and transmission, to end-use power
    generation, petrochemical plants, and plastic manufacturing.

"This report highlights the benefits Ohio's communities are receiving as
a result of the state's role in the U.S. energy revolution and
investment in our state's energy infrastructure," Chris Ventura, CEA's
Midwest Executive Director, said. "Lower fuel prices have helped Ohioans
save over $40 billion in the past decade. This means families have more
money to pay for school clothes, grocery bills, and perhaps even to take
a vacation that has been put off for far too long."

Ventura added, "Fortunately, the benefits from increased production of
Ohio's energy resources are not just limited to residential consumer
savings, energy development has also led to the increase in economic
investment and job creation we've seen over the past decade."

"Despite the tremendous benefits and critical importance of energy
production to Ohio's families, farmers, and factories, out-of-state
activists continue to work to eliminate the production of safe,
affordable sources of energy without offering any solutions to help meet
consumer demand as well as our environmental goals. CEA believes that it
is critical for Ohio's policymakers, regulators, and leaders to continue
to come together in support of Ohio energy production that will keep our
state thriving."

To view the report, click
here
.

About Consumer Energy Alliance

Consumer Energy Alliance (CEA) brings together families, farmers, small
businesses, distributors, producers and manufacturers to support
America's energy future. With more than 500,000 members nationwide, our
mission is to help ensure stable prices and energy security for
households across the country. We believe energy development is
something that touches everyone in our nation, and thus it is necessary
for all of us to actively engage in the conversation about how we
develop our diverse energy resources and energy's importance to the
economy. Learn more at ConsumerEnergyAlliance.org.

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