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.

Haley: What the president should have said: ‘Thanks, fracking’

President Obama uttered 5,438 words during his hour-long State of the Union speech this month, but he forgot two: Thanks, fracking. In his final State of the Union speech, the president took credit for lower gasoline prices, for cutting our carbon dioxide emissions and for reducing our dependence on foreign oil. However, he completely failed to recognize how any of that took place. The shale revolution — our American energy renaissance — wasn’t mentioned once. He also blew his chance to thank the hundreds of thousands of men and women who work in the oil and gas industry in this country — an industry that helped pull the United S ... Read More »

2012 Economic Impact Study- CU Leeds School of Business

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. It brings in outside investment and often operates in rural areas where high-wage jobs are scarce and industry is fleeting. 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 2012, Colorado’s oil and gas industry recorded $9.3 billion in production value, accounting for some 29,300 di ... Read More »