Natural gas prices — like virtually every commodity — will ebb and flow over time. It is quite clear, though, that our abundant and growing resource base will help keep energy prices affordable for American consumers and businesses for decades to come.
In fact, President Obama said this during his 2013 State of the Union Address:
“After years of talking about it, we are finally poised to control our own energy future. We produce more natural gas than ever before – and nearly everyone’s energy bill is lower because of it.”
Additionally, there is a benefit to living near the Marcellus development. Historically, local utilities had to transport natural gas from the U.S. Gulf coast and the Midwest to serve their customers. With that transportation comes added costs. By sourcing gas locally, some utilities no longer have to transport gas from hundreds of miles away, in turn saving money that translates into lower bills for their customers. Between 2008 and 2011, the region’s largest natural gas utilities averaged a 41.25-percent cut in rates for consumers, equating to nearly $3,200 in average savings per customer during that period.