Energy Prices Continue to Rise. When Will We See Relief?
For Immediate Release:December 9, 2021Media Contact:George Brown(740) 587-0410
Energy Prices Continue to Rise. When Will We See Relief?
Granville, OH - As the world emerged from COVID-19 induced lockdowns earlier this year we began seeing energy prices increase dramatically. Prices have risen so much that a report by the Consumer Energy Alliance estimates Americans will pay at least $13.6 billion more this winter for energy.What does that mean for the average Ohioan?- Heating a home with natural gas will cost an average of $172 more this winter, a 30% increase. (Energy Information Administration (EIA)- If you use heating oil to heat your home, you’ll pay an average of $516 more, a 43% increase. (EIA)- Every time you fill up your car at the pump, you’re paying an average of $17 more compared to this time last year (based on an average 15-gallon tank). (Consumer Energy Alliance)For many Ohioans, these kinds of price increases are unaffordable. In August, the US Census Bureau reported that 29% of families had to skimp on basic household necessities such as food and medicine in order to pay their energy bills.“The core cause of rising energy prices is a supply shortage driven by rising demand domestically and overseas,” said George Brown, Executive Director of the Ohio Oil and Gas Energy Education Program (OOGEEP). “We have the power to fix that by producing more natural gas and oil right here in Ohio.”According to the latest EIA data, Ohio produced 44,000 barrels of oil a day in September and 6.034 billion cubic feet of natural gas per day. That’s enough natural gas being produced everyday to heat over 65,000 homes for an entire winter!To top it off, we also have four refineries in the state turning that oil into usable products like gasoline, and 11 natural gas-fired power plants completed or under construction to generate electricity for our homes.“Despite all that production, we aren’t tapping into the full potential of Ohio’s considerable natural gas and oil resources and that’s contributing to rising energy prices,” stated Brown. “Producers trying to ramp up production are being held back by red tape, and addressing that reality would go a long way in easing the supply issues causing high energy prices.”About OOGEEP: The Ohio Oil and Gas Energy Education Program (OOGEEP) is a non-profit statewide education and public outreach program. Created in 1998, OOGEEP provides a variety of programs throughout the State of Ohio on behalf of Ohio’s natural gas and crude oil producers. The primary goal of these programs is to educate Ohio’s consumers and leaders by focusing on industry research, teacher workshops, scholarships, science fair, firefighter training, career and workforce development, landowner and guest speaker programs. Engage with us via oogeep.org, like us on Facebook and follow us on Twitter, Instagram and LinkedIn.###