Study: New oil and gas production generates big savings for schools, states
A new study shows that America’s shale energy revolution is saving billions for local schools districts, as well as state and local taxpayers.
The study by IHS Global Insight estimated energy savings during the 2012-2013 fiscal year from unconventional oil and natural gas production -- resources generally unlocked from shale deposits and other tight formations using hydraulic fracturing and horizontal drilling. In total, U.S. public elementary and secondary school districts saved approximately 9.3 percent on electricity and 21.3 percent on natural gas, for a total of $1.2 billion. State and local governments saved an estimated 9.5 percent on electricity and 21.6 percent on natural gas, for a total of $720 million, or the cost to employ about 10,995 government workers.
IHS study and state-by-state summary below.
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