The first benefit, regardless of where you reside, is more affordable utility rates. Given the increased production of natural gas, specifically from the Marcellus Shale, prices have come down to a fraction of cost than just a few short years ago. Here in Pennsylvania, utility companies are required to pass that commodity savings along to the consumer.
Second, the rebirth of the refineries in South Philadelphia and Delaware County. For not the Marcellus, and its proximity to these locations, those refineries may not have re-opened this past year. So in addition to the jobs that were saved at these locations, the support jobs and local businesses that service the employees of these refiners have also found life, thanks to Marcellus Shale natural gas development.
Third, there are a tremendous number of professional services and manufacturers based in the region that are working each day to support responsible Marcellus development. From law firms, environmental consultants and companies like Schramm of West Chester who actually manufacture drilling rigs, there are jobs based in the region that are directly tied to natural gas development.
Lastly, is the tax and impact fee revenue. Since 2006, the natural gas industry has generated more than $1.8 billion in state taxes and more than $400 million in impact fees. These tax dollars go to Harrisburg to help fund state government initiatives and services, including those southeastern Pennsylvania. Philadelphia has also received more than $2.5 million in impact fee revenue these past two years, even though there is not a Marcellus Shale natural gas well for a few hundred miles.
So the benefits are real and far-reaching, regardless of where you may reside in the commonwealth.
