Consumer Energy Alliance Report: Georgians Saved More Than $16B over 10 Years Thanks to Lower-Priced Natural Gas
Thursday, February 7th, 2019
Thanks to increased energy production and safer, state-of-the-art technologies – which together have decreased the price of natural gas – Georgian families, businesses and farmers collectively saved more than $16 billion between 2006 and 2016, according to a state report by Consumer Energy Alliance (CEA), with calculations developed by Orion Strategies.
Households saved over almost $6 billion while commercial and industrial users saved more than $9.9 billion, combined, the report, titled, “Georgia Residents Benefit from Affordable Natural Gas,” revealed. CEA presented its findings today at the Georgia Chamber to their Government Affairs Committee, in Atlanta.
The analysis details how the national and local energy revolution has helped Georgia energy consumers increase disposable income, adding to job growth and economic investment while helping to revitalize communities. It also details how Georgia’s lack of availability to local and state resources creates a reliance on energy infrastructure to ensure that affordable energy can be delivered to the state. As a result, it’s critical families and businesses work with local and state governments to guarantee that current, and future, Georgians can count on domestic energy and a robust pipeline network to deliver energy to their homes and businesses.
Highlights from the report include:
On average, each resident spent $3,022 to meet their energy needs in 2016. For the nearly 15 percent of the state’s population living at or below the poverty line, this translates to almost one-quarter of their income going toward energy expenses.
Georgia consumers saved more than $16 billion in energy costs between 2006 and 2016. Residential users saved more than $6 billion; commercial and industrial users together saved more than $9.9 billion.
The oil and natural gas industry contributed 142,700 jobs and accounted for more than $7.5 billion in wages in Georgia.
In all, oil and gas provide more than $13.7 billion to Georgia’s state economy. That includes employee compensation, proprietors’ income, income to capital owners from property and indirect business taxes.
The state does not currently have any crude oil or natural gas production. In recent years, developers have been investigating potential energy resources in the Conasauga Shale, in northwest Georgia.
Georgia is among the top 10 petroleum-consuming states, with its transportation sector accounting for 90 percent of consumption. Its industrial sector is Georgia’s second-largest user of petroleum products.
From 2000 to 2017, nationwide emissions of key pollutants have decreased, including nitrogen oxides (by 52 percent), sulfur dioxide (by 83 percent), volatile organic compounds (by 19 percent) and fine particulate matter (by 37 percent).
“Access to energy supports just about everything we do across Georgia. It fuels our cars and trucks and cools our homes during the hot, humid summer months,” Kevin Doyle, CEA’s Georgia Director, said. “That’s why it’s crucial that Georgians work with local and state governments to guarantee that families and businesses can continue to count on domestic energy and the pipeline networks that deliver it to our homes and businesses. We cannot take it for granted.”
Doyle added: “We should protect our access to reliable, affordable energy resources to preserve our state’s economic well-being. While Georgia’s agriculture industry directly impacts our state, so too does the energy industry, and it’s not only farmers and ranchers. Energy from clean, abundant and affordable natural gas has saved both families and businesses in Georgia almost $16 billion between 2006 and 2016.”