Ranked: The Lowest Cost Energy Sources

Written By Abbie Kinney

Visual Capitalist, October 22, 2025

Key Takeaways

  • Shale Crescent USA natural gas is the lowest in the industrialized world at $15.7/BOE, while imported gas in Europe and Asia is $74–$75/BOE.

  • Shale Crescent USA is the states of Ohio, West Virginia, and Pennsylvania, and is the 3rd largest producing region in the world.

  • Regional basis discounts can translate into lower operating and feedstock costs for manufacturers.

Energy costs drive manufacturing competitiveness and capital flows. A like-for-like comparison between different energy forms helps reveal where the lowest-cost energy sits today.

This graphic, in partnership with Shale Crescent USA, shows how major fuels stack up by price in $/BOE (Barrel of Oil Energy Equivalent)—with Shale Crescent natural gas ranking the lowest—using data from the EIA, Barchart.com, and NRG.


How Shale Crescent USA Gas Stakes Its Cost Edge

This table shows the 2025 average $/BOE comparison for each energy source featured in the graphic.

Energy Source $/BOE

Shale Crescent USA Natural Gas 15.7
U.S. Natural Gas (NYMEX) 20.4
Global Coal 21.4
Asia Natural Gas (JKM) 75.0
Oil - WTI (West Texas) 67.8
Oil - Brent Crude (UK) 71.3
Europe Natural Gas (TTF) 74.6

On a $/BOE basis, Shale Crescent USA natural gas at $15.7 sits far below Asia’s JKM price of $75.0/BOE and Europe’s TTF at $74.6/BOE, reflecting a lack of supply, transport, and import dynamics. Supply abundance, pipeline access, proximity to markets, and modern drilling keep delivered costs low.

The Shale Crescent regional hubs clear under national benchmarks because of regional basis discounts. For the past decade, prices in the Shale Crescent have been substantially lower than other U.S. and global markets.

Consequently, manufacturers and power generation can capture lower fuel and feedstock costs by locating near Ohio, West Virginia, and Pennsylvania’s abundant supply.

Benchmarking Against Global Fuels

Across the country, prices remain elevated compared to the Shale Crescent. U.S. Natural Gas (NYMEX) prints at $20.4 and global coal at $21.4.

Meanwhile, oil benchmarks price materially higher than U.S. gas on a BOE basis: WTI is $67.8 and Brent is $71.3 per barrel.

What This Means for Manufacturers

Lower and more stable inputs support expansions in energy-intensive sectors. Therefore, projects near Shale Crescent gas can lock in a durable cost advantage. The closer energy intensive consumers can be to supply, the better pricing they will receive.

The abundance of in-basin supply, dense pipeline and storage networks, and proximity to major customers drive structurally lower delivered costs, making the Shale Crescent USA a natural home for energy-intensive manufacturing.

It is the only location in the world at scale where a manufacturer can locate on top of the fuel supply and be in the center of customers. No other location in the world has both together.

Companies that co-locate can convert persistent basis discounts into better profit margins, shorter supply chains, and faster ramp up, thanks to existing industrial infrastructure and sites, and a skilled workforce.

https://www.visualcapitalist.com/sp/sc01-ranked-the-lowest-cost-energy-sources/

Abbie Kinney
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