ANGA: Public Schools Saved Money Because of Gas Boom

ANGA Public Schools Saved Money Because of Gas Boom

A new study shows just how significant the energy boom has been on the state and local level. During the past year, public school districts, as well as state and local governments, saved nearly $2 billion because of unconventional oil and natural gas development.

Specifically, 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 21.3 percent on natural gas, for a total of $467. Combined with oil, the total savings were $1.2 billion. These savings could be used to employ an additional 14,246 teachers, with 5,450 of those coming because of natural gas.

At the same time, 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.

As for some individual states, natural gas production saved Colorado schools $3 million and saved state and local governments another $2 million. These savings are enough to employ 40 teachers and another 30 government workers. Natural gas production saved New York over $53 million and California $118 million.

As states and municipalities continue to embrace natural gas, there’s no doubt they will save even more money. And that will help them meet their budgets and retain and hire new teachers and workers. The natural gas boom is truly transforming America and making a difference on the local level.

[mappress]
Press Release, June 10, 2014