The Small Business & Entrepreneurship Council (SBE Council) released the "Energy Cost Index 2010," which ranks the 50 states and District of Columbia according to key energy costs. This is the second annual "Energy Cost Index 2010" report.
SBE Council President & CEO Karen Kerrigan said: "Too often, our elected officials choose to ignore the reality that politics affects energy costs for consumers and small businesses. They should consider where their state ranks, and examine how policy can be changed to help bring down energy costs."
SBE Council's "Energy Cost Index 2010" looks at two major energy costs affecting small businesses, individuals and families: 1) the price of regular gasoline at the pump, and 2) the cost of electricity (average revenue per kilowatthour). Each are calculated as indices and combined into one index.
At the top - or the lowest cost states - are: 1) Wyoming, 2) Kentucky, 3t) Missouri, 3t) Oklahoma, 5) Idaho, 6) West Virginia, 7) Louisiana, 8) North Dakota, 9) Iowa, 10t) Nebraska, 10t) South Dakota, and 10t) Utah.
At the other end are the highest cost states (including the District of Columbia): 42t) District of Columbia, 42t) Rhode Island, 44) New Jersey, 45) California, 46) New Hampshire, 47) Massachusetts, 48) New York, 49) Alaska, 50) Connecticut, and 51) Hawaii. The full rankings follow at the end of this release.
Raymond J. Keating, SBE Council chief economist and author of the report, observed: "While other factors certainly come into play, governmental actions explain part of the difference in energy prices from state to state. Quite simply, higher taxes, increased regulation and more mandates on the energy front translate into higher energy costs. It's straightforward economics that should not be ignored for the sake of political pandering."