RT @exxonmobil: Today we announced our plans to join the Oil and Gas Climate Initiative, a voluntary initiative representing 13 of the worl…
- Strength in numbers: Diversifying America’s petrochemical industry bolsters security
- Anne Blankenship: Higher natural gas severance is a tax on WV's future (Gazette Opinion)
- Energy companies commit to reducing environmental impact of pipeline construction
- Poll finds favorable view of oil and gas industry
- ExxonMobil and Employees Contribute More Than $287,000 To West Virginia Colleges and Universities
- MarkWest Sherwood Plant helps growth and development in Doddridge County
- Fracking study shows no water well contamination
- Study Finds No Evidence of Groundwater Contamination Attributable to Natural Gas Development
- Howard Swint: Midstream key to West Virginia's economic growth (Daily Mail)
- Letter: Natural gas growth wonderful news for West Virginia (Daily Mail)
- Propublica-funded Article On W. Virginia Shale Development Is More Scare Tactic Than Objective Journalism
- Daily Mail editorial: Mountain Valley Pipeline will provide much needed economic boost
- Mark J. Perry: Low-cost natural gas an environmentally friendly fuel (Daily Mail)
- Howard Swint: WV natural gasoline fueling economic development (Daily Mail)
- IHS Report on Petrochem Manufacturing in Appalachia
- Cove Point Becomes 2nd U.S. Liquefied Natural Gas Export Terminal
- Chris Ventura: Rally for lower energy costs starts with you (Gazette)
- Gassed up and ready to go
Charleston, W.Va. (December 20, 2017)– Since the development of the Marcellus Shale over the last ten years, the amount that consumers have paid for natural gas in the Mountain State’s homes and businesses has tumbled $4.3 Billion (in 2016 dollars) - making Christmas merrier across West Virginia. Data from the Energy Information Administration shows dropping prices for natural gas consumers at all levels including residential, commercial and industrial users.
Anne Blankenship, Executive Director of the West Virginia Oil and Natural Gas Association is thrilled to see how natural gas development in West Virginia is paying off in a big way. “Merry Christmas, West Virginia! First, we learned of the huge China Energy deal of $83.7 billion to be invested here, and now we see how much money the industry is saving West Virginians across the state,” Blankenship said.
Since the development of shale gas in West Virginia a decade ago, residential customers have saved a remarkable $1.57 billion statewide. Rates have dropped for commercial and industrial energy consumption as well, totaling about $1.38 billion (commercial) and $1.32 billion (industrial) in savings on their gas bills.
Billions of dollars have been invested in West Virginia’s natural gas industry for development that has lead to enormous economic impact. The state has considerably more natural gas than it can use, sitting atop the second largest gas field in the world.
“When you look at the trend year by year, you can see that the savings for all West Virginians just keep growing,” said Blankenship. “And, when you add it all up, that number is impressive.”
West Virginia sits on the cusp of one of the greatest periods of infrastructure development since, potentially, the creation of the interstate system. This development will provide tens of thousands of jobs, billions of dollars in investment, generations’ worth of tax receipts for state and county governments, and possibly most importantly, set the foundation for maximizing West Virginia’s oil and gas resources for the benefit of all West Virginians.
Natural gas interstate pipeline projects approved or under review by the Federal Energy Regulatory Commission represent what may be the largest private sector infrastructure investment in the state’s history. Four of those projects — the Mountain Valley Pipeline, Atlantic Coast Pipeline, Supply Header and the Leach Express Pipeline — are estimated to provide over $7 billion in investment and economic activity alone. The Mountain Valley, Atlantic Coast and Supply Header pipelines were recently approved by the Federal Energy Regulatory Commission, while the Leach Express was approved earlier this year.
West Virginia sits on the cusp of one of the greatest periods of infrastructure development since, potentially, the creation of the interstate highway system.
This development will provide tens of thousands of jobs, billions of dollars in investment, generations’ worth of tax receipts for state and county governments, and set the foundation for maximizing the state’s oil and gas resources for the benefit of all West Virginians.
County governments in seven southern West Virginia counties will receive more than $8 million from property taxes on oil and natural gas production.
Taxes will provide county governments with more than $96 million for local school systems and community services, according to a Monday news release from the West Virginia Oil and Natural Gas Association. WVONGA serves the entire oil and natural gas industry, including organizations involved in construction, environmental services, drilling, transporting, distribution and processing.