How NH loses $2.6 billion every year
In case you haven’t noticed, New Hampshire isn’t rich in the sources of the fossil fuels we rely upon.
In fact, since we do not have any oil, propane, coal, natural gas or uranium, one would have to say our energy supply is extremely vulnerable to situations outside our control. More than 90% of our energy sources are imported, with 100% of our transportation fuels coming from outside our borders. At least 85% of our homes are heated with imported fossil fuels. Coal, natural gas and nuclear sources create our electricity.
But the most shocking statistic is that New Hampshire spends over $2.6 billion every year to import petroleum products, according to figures provided by the Office of Energy and Planning.
$2.6 billion is a lot of money leaving our state.
That is $2.6 billion that leaves our pocket books, our households, our local economy, our state, our region, our country – and does not come back – every single year.
To put it in perspective, $2.6 billion is about the size of our entire state budget; it is about $2,000 per person per year just to import fossil fuel.
New Hampshire has abundant underutilized renewable energy resources, such as biomass, geothermal, hydro, wind, wave, tidal and solar energy. Substituting these energy sources reduces our vulnerability to energy supplies, creates jobs for our friends and neighbors, and keeps some of that $2.6 billion here at home. We can all be more efficient in how we use energy – dollars we are not spending on imported oil are dollars we keep in our pockets.
Finally, we, and our elected officials, need to get serious about reducing the $2.6 billion that leaves our state every year. Perhaps the climate bill moving through the United States Senate is a good place to start.
[...] We first reported last week that New Hampshire sends $2.6 billion out of the state annually importing petroleum products. The same Office of Energy and Planning document we cited also states that we spent $4.28 billion in 2007 for fossil fuels and uranium, of which 80% leaves the state (about $3.4 billion). We now know that at least $59 million traces back directly to a nation* with questionable intentions for the purchase of coal. We can assume the total amount, including revenues from petroleum that reach Venezuela, is significantly higher. [...]
[...] O’Brien indicated that in the 2 years the program has been in existence, and despite a 2010 raid on the dedicated RGGI funds to cover general budget shortfalls, many projects have already been executed across the state, improving energy efficiency and saving citizens money. The show’s audience backed up this claim, with a caller from Temple citing her town’s experience reducing energy costs through RGGI project funding. O’Brien went on to say that RGGI helps us keep more money in-state, supporting the local economy and small businesses, out of the billions of dollars we send out to support our fossil fuel habits. [...]