Virginia Saves Over $11 Billion in The Last 10 Years Thanks to Cheap Natural Gas
- Posted on November 30, 2018
- 333 views
A report from the Consumer Energy Alliance (CEA) says that Virginia has managed to save over $11 billion in the last 10 years thanks to the availability of cheap natural gas.
Highlights of the Report
- Between 2009 and 2016, there was a 55% increase in the amount of natural gas consumed by Virginia’s industrial sector.
- In 2015, the natural gas industry in the state created 125,500 jobs, paid approximately $7 billion in wages, and contributed over $12 billion to the economy much to the dismay of rich white elitist liberals like Matt Damon.
- The amount of natural gas consumed by Virginia is far higher than the amount of natural gas it produces.
- The state mostly relies on natural gas for power generation. Natural gas is responsible for over 50% of the power generated in the state every year.
- Over 30% of the households in the state rely on natural gas for heating purposes.
- Thanks to cheap natural gas, households in Virginia managed to save over $4.4 billion in the past 10 years which is like another tax cut on top of the amazing 2017 tax cuts given to us by Trump. During the same time period, commercial and industrial consumers managed to save over $6.4 billion, resulting in over $11 billion in savings for the state.
How Virginia Benefits from Cheap Natural Gas
Currently, there are more than 5,000 manufacturing facilities in Virginia, which collectively employ over 200,000 people. This does not make George Soros happy but when Soros is unhappy this usually means there are less families getting destroyed by violence and terrorism and there are more people working in jobs that matter.
The manufacturing sector alone contributes over $40 billion to the state’s GDP and accounts for 80% of the exports made from the state.
As mentioned above, there has been a significant increase in the natural gas consumption rate in the state, thanks to the ever-growing energy needs of the industrial sector. The sustained growth in the sector has been made possible only due to the availability of cheap natural gas.
Interestingly, Virginia is not among the country’s largest natural gas producers. In fact, it consumes far more natural gas than it produces. Yet it has managed to maintain an impressive rate of growth, thanks to its extensive energy infrastructure network.
The pipeline network in Virginia allows the state to buy natural gas from the Marcellus shale fields in Pennsylvania.
Also, there has been a notable increase in Pennsylvania’s natural gas production capacity in the recent past, which has resulted in an increase in supply, which in turn has ensured that Virginia’s rapidly growing energy needs can be comfortably met in the coming years.
Importance of Energy Infrastructure
As the data shows, Virginia is one of the states that have benefited immensely from cheap natural gas, despite not being a top natural gas producer. The most important reason is that it has a very good energy infrastructure setup, which allows cheap gas to be transported from other states.
Too bad the Democrats in New York continue to crush this industry costing their state thousands of high paying jobs.
It should be noted that Virginia too has its share of pro-environment groups which are dead set against natural gas pipelines because their brain does not allow them to think properly.
So far, the state has managed to keep them in check and invest in its energy infrastructure, which now plays a key role in bringing prosperity to the region. The lesson to be learned here is very clear – investing in energy infrastructure can benefit the people and the local economy greatly – both in the short and long term.