Progress and Opportunity: The State of Colorado Energy

Tracee Bentley
Posted July 23, 2018

Colorado’s natural gas and oil industry thrives by working collaboratively with stakeholders of various and, sometimes, differing interests. Development in the Centennial State is well-regulated and places great emphasis on the safety of our communities and the environment, and the industry has grown by leaps and bounds as a result. In fact, Colorado is now the fifth-largest natural gas producer and the seventh-largest oil producer in the United States. This growth has fundamentally reshaped Colorado’s economy for the better, which is why these collaborative conversations must continue to occur.

In that context, the Colorado Petroleum Council’s annual “State of Colorado Energy” luncheon this Thursday in Denver comes at an important time – with U.S. Deputy Interior Secretary David Bernhardt and former Interior Secretary Ken Salazar joining API President and CEO Jack Gerard for a wide-ranging discussion of the energy industry in Colorado and the Mountain West.

Every Coloradan benefits from the industry’s inclusive, collaborative approach to development – detailed in our recent state report, “Progress and Opportunity.” Natural gas and oil have an annual economic impact of more than $31.4 billion and contribute more than $1.2 billion per year in public revenue to the state. This revenue helps fund everything from education to transportation to the specific needs of local communities across Colorado.

Such is the value of coming together to achieve shared goals. The Colorado natural gas and oil industry has worked tirelessly with state and local governments as well as business interests outside of the industry to find the right balance for the state, and these collective efforts have produced remarkable results. Colorado’s energy production is at an all-time high while carbon emissions nationwide are at 25-year lows, owing in large part to clean natural gas production through advanced hydraulic fracturing.

Natural gas and oil produce more than 60 percent of the energy consumed in Colorado and account for more than 232,900 jobs in the state. Colorado is a foundation of America’s energy renaissance, and that renaissance has helped Colorado’s economy become one of America’s very best.

So, what does the future hold? The opportunities and challenges facing the industry in today’s difficult political environment are just a few of the many timely topics that will be discussed at this week’s upcoming luncheon.

Colorado has shown that people with differing viewpoints can work together to accomplish much. Certainly, that’s the natural gas and oil story in our state – a shining example, perhaps, for the rest of the country of what can be accomplished by putting the greater good first and pulling together.