Experts predict that natural gas prices are expected to remain affordable for Ontarians through to at least 2025. That’s because of the discovery of massive natural gas supplies in North America, one of which is the Marcellus shale gas basin, lying under parts of Pennsylvania, Ohio, West Virginia, Maryland and New York. This natural gas renaissance began delivering some of its benefits to Ontario doorsteps recently. Our access to this massive supply is, in part, why Ontarians are experiencing affordable natural gas—with prices for residential customers that are, on average, $400 less today compared to just five years ago.
As the discussion on shale continues, ONGA supports the adherence to smart regulations that provide environmental protection at all stages of the development process. To this end, ONGA acknowledges a new Pittsburgh, Pennsylvania-based organization, the Center for Sustainable Shale Development, which has been established to help set standards and facilitate collaboration and discussion on the extraction of this important fuel resource. The work of the Centre for Sustainable Shale Development will help provide valuable information for industry and government as they collaborate to strengthen regulations to ensure smart, modern regulations are in place to further protect the environment, public health and safety while realizing the full economic and environmental benefits of natural gas. Advancements in the technologies used to extract natural gas continue to improve and are already delivering results. An example, improved technologies that allow producers to recycle the water reduces the overall amount of water consumed in the extraction process. While we as Ontarians will benefit from clean and affordable natural gas for many years to come, our enduring priority is to balance our needs for energy with our need to respect the environment.
What do you think the Center for Sustainable Shale Development will contribute to the future of natural gas development? Let us know in the comments.