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Powering the Economy – Savings & Growth

Together, natural gas and oil supplied about two-thirds of the energy Americans used in 2016, and EIA estimates they will account for nearly 70 percent of the country’s energy use in 2050.

Average annual energy costs per U.S. household dropped 14 percent between 2008and 2014 – when the U.S. energy renaissance accelerated – reducing overall living costs and increasing disposable income.

Downward pressure on global crude oil prices from increased U.S. production helped save U.S. motorists, on average, about $550 at the gasoline pump in 2015 compared to 2014.

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In 2016, natural gas was the leading fuel for total U.S. power generation across all sectors (electric, commercial and industrial), chiefly because it is clean, abundant and reliable. It was on track to be the leading fuel again in 2017.

Savings from abundant shale energy increased household disposable income by $1,337 in 2015, according to one study. Another analysis said U.S. consumers could save an estimated $100 billion – or $655 per household – by 2040 from increased use of natural gas throughout the economy.