Everything is bigger in Texas, even savings from energy costs, according to a new report by Consumer Energy Alliance (CEA).
Industrial users saved nearly $52.4 billion
Thanks to record energy production and safer, environmentally efficient, state-of-the-art technologies, Texan households and businesses saved nearly $60 billion between 2006 and 2016, according to a recent CEA report titled “Oil and Natural Gas Light the Way for Texans.”
According to the report, residential users saved more than $7.2 billion, and commercial and industrial users saved nearly $52.4 billion. The analysis details how the national and local energy revolution — particularly the one unfolding in the Permian Basin — has helped energy consumers increase disposable income and has also sparked job growth and economic investment. The revolution has revitalized communities like Midland and Odessa, both of which have seen their building permits, hotel revenue, and home and car sales increase while unemployment rates have fallen to record-low levels.
“It’s no secret Texas is a national and global leader in energy production. But what remained under the radar was how this sustained leadership, paired with the ability to move resources through pipeline infrastructure, greatly benefitted Texas families and businesses and helped fund critical, municipal services including schools, hospitals and roads,” said David Holt, CEA president.
The report also touches on how the job growth rate in Texas is significantly higher than the national rate of 1.7 percent. That’s led to a surge in demand for skilled workers, said Brandon Willis, public affairs agent for International Union of Operating Engineers.
For more information, visit www.consumerenergyalliance.org or call (720) 582-0242.
