Fracking supports Colorado’s economy

Fracking touches almost every aspect of our lives in Colorado and across the country. From keeping our homes and businesses warm on chilly days, to keeping the lights on and powering our stoves and water heaters, fracking is leading the way to a reliable and more affordable energy future.

Thanks to technological innovations, states like Colorado are proving again and again that fracking is charting the future of American energy. In 2016, the U.S. Geological Survey released data showing that Colorado’s Mancos Shale formation in the Piceance Basin contains more than 66 trillion cubic feet of natural gas—enough to heat an estimated 15 million homes for an entire year. As Governor Hickenlooper said in 2017: “We’ve become one of the best states in the country for natural gas production.”

 

How fracking benefits Colorado

In 2015, the Colorado’s oil and natural gas industry contributed more than $31 billion to our economy and supported over 232,900 jobs. According to the Denver Business Journal, those oil and natural gas jobs “accounted for nearly 7 percent of the total state employment.”

“Fracking is good for the country’s energy supply, our national security, our economy, and our environment.”

— Governor John Hickenlooper (2016)

When Colorado sells natural gas, schools, state universities, state parks, and public buildings all benefit. The money Colorado makes from collecting and selling natural gas goes directly back into the communities who deserve it the most. In addition to supporting and creating Colorado jobs, the oil and natural gas industry generates more than $1 billion annually in revenues to state and local governments, school districts and special districts—funding schools, parks, and roads across the state.

In addition to using oil and natural gas for cooking and generating electricity, the Colorado Energy Office says that, “nearly three quarters of Colorado households use natural gas to heat their homes.” A 2019 nationwide assessment of energy costs conducted by the personal finance website WalletHub also found that, “Colorado is the second least energy-expensive state to live in the U.S.” and, “residents enjoy exceptionally low natural-gas prices.”

Today, because of breakthroughs in fracking technology, the U.S. oil and natural gas industry continues to help grow our economy and shape the future of American energy and manufacturing for decades to come. And that’s no small feat.

 

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