Study finds Marcellus Shale boom decreased energy costs
Friday, November 3, 2017
A recent study conducted by the University of Pennsylvania found that natural gas prices have significantly decreased in Pennsylvania over the past 10 years, over the course of the Marcellus Shale boom, according to the Pittsburgh Business Times.
Residential consumers have enjoyed natural gas price cuts of up to 40 percent. Industrial and commercial costs also fell between 44 and 64 percent, and commodity rates that natural gas distribution companies are permitted to charge customers has fallen by 72 percent.
Simultaneously, demand for natural gas has increased 250 percent across the state.
Learn more: Pittsburgh Business Times > Study: Marcellus Shale boom has led to lower energy costs
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.