Economics & Taxes

The health of the oil and natural gas industry is of key importance to the State of Colorado. Colorado ranks 6th in the country in natural gas production and 9th in oil production. In 2012, the industry supported over 115,000 Colorado jobs and provides $29.6 billion to the state’s economy. In addition to providing jobs that support communities across the state, Colorado receives a significant portion of its state revenues from oil and gas development, with over 95% of the severance taxes paid for by the industry. The oil and natural gas industry is a key component to rural values, lifestyles and economies and help keep those areas growing and thriving. It is critically important that Colorado has a welcoming environment for energy investment.

Oil and Gas Industry Economic and Fiscal Contributions in Colorado by County, 2014

The oil and gas industry, along with nearly all extraction industries, inherently provides substantial economic benefits due to its integrated supply chain, high wage jobs, and propensity to sell nationally and globally. Much of Colorado’s oil and gas is sold outside of the state, contributing wealth to owners, employees, governments, and schools, all of which are beneficiaries of oil and gas revenues. In 2014, Colorado’s upstream and midstream oil and gas industry includes drilling, extraction, support activities, pipeline construction, and pipeline transportation. The industry recorded $15.8 billion in production value, accounting for 3 ... Read More »

Infographic : Economic impact of Oil and Gas in Colorado

This infographic is a short and sweet snapshot of the oil and gas industry's impact in Colorado. Based on the most recent numbers from the "Oil and Gas Industry Economic and Fiscal Contributions by County, 2014" report from the University of Colorado Boulder Leeds School of Business- Business Research Division.   Read More »