Abundance of locally-produced oil and gas benefits the economy, environment and local schools
A new report from Texans for Natural Gas highlights how oil and gas production in the Eagle Ford Shale is delivering economic and environmental benefits to South Texas. As the second largest oil producing region in the country and fourth largest natural gas producing region, the Eagle Ford generated nearly $50 billion dollars in economic output in 2016, while supporting more than 23,000 jobs in Bexar County alone.
In addition to economic impacts, the report uses state and local data to show how increased natural gas use is linked to important environmental gains, such as lowering San Antonio ozone levels while also keeping local power bills affordable. Further, over a quarter billion dollars from oil and gas tax revenues helped fund schools in the Eagle Ford region last year.
Key findings include:
- 23,525 jobs in Bexar County were supported by the Eagle Ford Shale in 2016, generating $1.1 billion in payroll impacts.
- Oil and gas generated over $1.3 billion in revenues for local governments in South Texas in 2016.
- School districts in the 15 core counties of the Eagle Ford Shale received more than $286 million in oil and gas property tax revenue in 2017.
- Natural gas has helped San Antonio reduce its ozone levels by 20 percent since 2003.
- Thanks to affordable natural gas, the price CPS Energy customers pay for electricity is approximately 11% less than the national average.
- The Eagle Ford Shale generated $49.8 billion in total economic output and created nearly $23.1 billion in gross regional product in 2016.
“In recent years, Texas has emerged as a major player in the global energy market, improving our balance of trade and making us more secure as a country. But the Eagle Ford Shale provides a great story of how the Texas shale boom is actually improving lives at the local level,” said Steve Everley, Spokesman for Texans for Natural Gas. “Thanks to the Eagle Ford Shale, residents in San Antonio are enjoying lower monthly energy bills and cleaner air. In 2017 alone, school districts throughout the Eagle Ford region received more than $286 million in funding from oil and gas property tax revenue. These are real benefits, accruing to real men and women who work in San Antonio and throughout South Texas.”
Click here to read the full report.
###
Steve Everley
Managing Director, Energy & Natural Resources
Strategic Communications
FTI Consulting
+1.214.397.1626 T | +1.469.999.4108 M
steve.everley@fticonsulting.com
2001 Ross Avenue | Suite 650
Dallas, TX 75201