API: Natural gas lowering energy costs for Pennsylvania and nation

PHILADELPHIA, July 27, 2016 – The price of natural gas for electricity generation in Pennsylvania decreased by 51 percent from 2005-2014. API President and CEO Jack Gerard called the decrease just one of the many benefits that come from increased domestic natural gas production.

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“Pennsylvania shows how our nation’s energy renaissance is benefiting communities across the country. The price of natural gas for electricity generation has dropped by 51 percent from 2005-2014 as natural gas production throughout the state has surged,” said Gerard. “Moving forward it’s critical to our nation’s success that we pursue energy policies that encourage natural gas production. A 2016 study estimated that shale gas added an extra $1,337 to the budget of the average American family while contributing to almost two million jobs throughout the economy in 2015.”

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 650 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans.

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