A secure supply of reliable, clean and affordable energy is critical for America as we enter the heating season.
While prices for all energy sources have risen in this inflationary market, Pennsylvanians are much more insulated from the extreme natural gas price spikes being felt globally, because our strategic resources are located under our feet. Pennsylvania consumers also have the unique ability to shop for electricity and natural gas suppliers in order to find the most affordable option for individual energy needs and preferences.
“Natural gas is an increasingly important aspect of modern life that enables lower cost energy and reduced emissions,” a new Northwood University and Mackinac Center for Public Policy report says. “But gas also heats or cools homes and businesses and keeps lights, heaters, and AC units running.”
Technological advancements that kickstarted the shale revolution unlocked a massive supply of domestic energy – primarily in the Appalachian Basin – and led to a 63% decline in the price for natural gas.
Moreover, it’s worth noting the significant gap between what U.S. consumers pay for natural gas and users overseas. As the Wall Street Journal highlighted, European and Asian consumers pay 43.7% and 36.3%, respectively, higher than Americans for natural gas.
That’s in addition to the world-leading emissions and air quality progress that continues to be made in Pennsylvania and nationally by using more natural gas in the power sector.
Despite all this progress, consumers across the country are feeling the negative effects– on top of record-high inflation – of ill-advised policy decisions and underinvesting in our nation’s abundant natural gas resources. By denying the benefits that our domestic energy supply provides to the U.S., current energy policies are threatening U.S. energy security and hindering environmental progress, the joint report argues.
“If state, local and federal officials ignore the benefits of natural gas, America’s standard of living will decline, global economic and political freedom will be harmed, and environmental impacts associated with energy development will expand in the decades to come,” said Jason Hayes, one of the study’s authors.
Indeed, policies that aim to limit natural gas development and use are extremely shortsighted, as they halt climate improvements and harm America’s economy. Those pushing for gas bans, pipeline blockades and other anti-consumer choice policies are failing at their attempts to reduce the growing demand for the essential fuel, but they are succeeding in placing additional financial burdens on constituents.
New York’s ban on natural gas development, for example, has the potential to cost households more than $27,000 individually, according to the Consumer Energy Alliance’s latest findings.
Rising energy costs tied to poor policy decision are having a real impact on American consumers, reinforcing the notion that “policies that reduce energy reliability and affordability make no sense,” the Consumer Energy Alliance said.
For Pennsylvanians struggling to afford utility bills this winter, visit the Pennsylvania Public Utility Commission (PUC) for a list of available resources, including programs such as the Low-Income Home Energy Assistance Program (LIHEAP) and the Dollar Energy Fund.
