By Chris Ventura, State Director, Consumer Energy Alliance.
A recent analysis by GoBankingRates.com found that Ohio’s median household paycheck is now about $1,949. After all bills and expenses are paid, families are left with, on average, $942.71, or 48 percent. This makes Ohio one of the 10 best states for stretching your paycheck.
In addition to lower housing costs, we should credit other factors, including Ohio’s energy industry.
From 2006 to 2016, households and businesses reportedly saved more than $40.2 billion in natural gas costs. Families saved $15 billion; commercial and industrial users saved $25.3 billion. Prior to that, natural gas prices peaked at $10.66; now, they’re less than $4. Gasoline prices have also dropped, from $4.15 per gallon in 2011 to under $3.
Energy also led to the opening of more than 700 businesses statewide to support industry. Over the last seven years, shale-related industry employment increased 7.8 percent, employing more than 389,000 Ohioans with an average wage of $98,613
Thanks to newer, environmentally-safer technologies, increases in production and investments in energy infrastructure, families have more jobs and money to pay for necessities like back-to-school supplies and grocery bills. That’s why it’s imperative our elected officials and policymakers continue to work together to support commonsense energy policies.
Chris Ventura is the State Director of the Consumer Energy Alliance.