Economic Benefits of Oil and Gas

Natural Gas Facts


  • Natural gas serves approximately 65 million homes; 5 million businesses including hotels, restaurants, hospitals, schools and supermarkets; 207,000 factories and 1,800 electric generating units.
  • Natural gas is considered the cleanest fossil fuel because it produces emissions much lower than those of other fossil fuels.
  • Natural gas currently generates approximately 23 percent of total U.S. electricity.
  • Natural gas is predominately a domestic energy source. In 2010, 99% of the natural gas consumed in the United States was produced in North America.
  • According to the EIA Annual Energy Outlook 2011, the United States possesses 2,543 trillion cubic feet of potential natural gas resources, enough to meet current U.S. consumption for another 100 years.
  • 53 of West Virginia’s 55 counties have oil or natural gas operations and all 55 counties benefited from over $70 million in severance taxes paid last year.
  • According to a recent study by West Virginia University, there will be at least 7,000 new West Virginia jobs created due to the impact of the Marcellus Shale development.
  • The amount of property tax the industry pays has more than doubled since 2005, with 2010 payouts being over $106 million. This money goes directly into our local communities and helps fund our public school systems.