West Virginia blessed with abundant energy | News, Sports, Jobs
As 2021 draws to a close, West Virginia has seen many blessings – from an recovering economy with more job opportunities to a stronger, healthier fiscal state, we move forward together.
We have even seen the advantages – and disadvantages – of being in the national political spotlight thanks to the unwavering leadership of Senators Manchin and Capito, and our delegation to Congress. Amidst the turmoil of DC, our leaders have not forgotten their roots, the people who helped them take office and the energy sector which is the bedrock of the well-being of our state and our nation. nation.
Whether it’s heating homes, schools and small businesses, driving growth in manufacturing, advancing environmental goals, or creating opportunities for local high school, business and college graduates, our world is brighter with natural gas from West Virginia.
Make no mistake, our industry fundamentals remain strong. We have seen year-over-year increases in natural gas production that have made West Virginia the fifth largest energy producer in the country. And further pipeline expansion in 2022 will open up new markets for our resource.
West Virginia’s highest-paying industry, natural gas development supports the careers of more than 82,000 West Virginia residents, from Weirton to Bluefield and everywhere in between.
The natural gas we produce in Mountain State is our economic engine and our climate plan – and expanding domestic and international use of natural gas will further stimulate production growth, investment, creation of jobs throughout West Virginia and will reduce our overall carbon footprint. It’s not rocket science, it’s Economy 101.
Increasing the production of natural gas in the United States is a real win-win. As we head into the winter season, Americans are turning up the heat and it’s natural gas that keeps us warm. About 40% of homes in West Virginia depend on natural gas for heat, as do about half of all American households.
While energy prices have risen in recent times due to many factors, including poor policy and regulatory decisions, thanks to increased US production, Americans continue to achieve significant energy savings at home and at the gasoline pump. Since 2008, households, businesses and manufacturers have saved $ 1.1 trillion due to increased production across the country, including the Appalachians.
Everyone in West Virginia benefits from the energy savings this industry creates – and when our industry does better, so does our state’s overall fiscal health.
Revenues generated from natural gas and petroleum taxes have contributed more than $ 3 billion to the state budget since 2008, including hundreds of millions of dollars per year in severance packages and local property tax revenues. , which directly support individual counties.
Municipalities depend on this vital revenue stream to perform basic local government functions, such as maintaining roads, improving bridges and parks.
These blessings are just a few of the positive impacts the oil and gas industry has had on our state, much of which we have a duty to share with our nation and allies across the globe.
As the world’s largest producer of oil and natural gas, our supply far exceeds domestic demand, giving us the opportunity to share these clean energy resources with the rest of the world. By 2022, the United States is expected to be the world’s largest exporter of liquefied natural gas, leading Russia and the Middle East. Our position as a reliable and trusted energy supplier to the world strengthens our national security, is good for our climate and our economy here at home.
While many hurdles remain as we approach the new year, the past two years have forced our industry to adapt and be resilient, setting us up for immense growth as we continue to expand and offer more to American and global consumers.
We have much to be excited about as 2022 approaches and we are grateful every day for the talent, courage and determination of our industry to provide the energy that powers our future.
Charlie Burd is executive director of the Gas and Oil Association of West Virginia. Learn more at GOWV.com.