Current Fuel Prices
LNG means jobs for NY
The introduction of LNG as a transportation fuel will create thousands of high-paying jobs in a number of industrial sectors. This will result in hundreds of millions of dollars in positive economic impact to the people of New York.
Recent studies done in states across the country estimate the economic impact of adding 100 jobs in the manufacturing area result in a total economic benefit of $25M to an area. This also results in a tax benefit to the state of $6M dollars. The introduction of LNG as a vehicular fuel has the potential to create hundreds of jobs in the manufacturing, service, utilities, and industrial sectors. This could result in a total economic impact in the $100M range, a major benefit to a state known as the 49th worst state to do business in in the US.
What kind of economic impact could NY expect if they switched to LNG?
$2.1 Billion Per Year in Cost Savings
In New York, approximately 1.5 billion gallons of diesel fuel is sold per year. At a cost of $4.25 per gallon, we collectively spend $6,375,000,000 per year on diesel fuel. By switching to LNG fuel, New Yorkers can collectively save over $2.1 billion per year!
So what does this cost savings mean to you?
For starters, the transportation costs for the goods you consume every day will start to decrease, translating into savings at the register everywhere you go; from the grocery store to the mall and from hardware stores to convenience stores.
For those in the transportation industry, these cost savings will make their fleets more competitive when bidding on shipping contracts, allowing them to hire more drivers and take on more routes. Further, many of these fleets are locally owned and operated, meaning that the salaries paid will be spent in our communities, generating an economic benefit to everyone.