The crucial role of oil and gas in Colorado

“Colorado's natural gas and oil industry is a pillar of the state's economy and plays a central role in the broader American energy revolution,” Sommers said. “Our industry supports over 232 900 good-paying jobs and contributes US$31.4 billion per year to Colorado’s economy alone. With the public policy headwinds currently facing the entire Colorado business community, I felt it was important to be on the ground, to visit with community leaders, and to learn even more about both the opportunities and challenges facing working families across the state.”

Sommers joined API Colorado Executive Director Lynn Granger for a series of meetings with elected officials. During the visit, the pair hosted a breakfast with the Hispanic, Black, Asian, LGBTQ, and Women’s chambers of commerce of Colorado, as well as a luncheon with the Aurora Chamber of Commerce and Colorado Business Roundtable. Further, Sommers and Granger participated in site tours of Extraction Oil and Gas’ Broomfield operation and the labour training facility of Pipefitters Local 208. Sommers’ visit concluded with an event promoting STEM (Science, Technology, Engineering and Mathematics) education at Hinkley High School in Aurora. There, API partnered with Halliburton and participated in several interactive projects with students, including simulating the creation of hydraulic fracturing fluid.

“I was thrilled to welcome Mike to Colorado this week, and I’m heartened by our organisation’s long-term commitment to Colorado,” Granger said. “Mike has a deep understanding of the public policy arena, and as Colorado faces unprecedented challenges in this regard, we are fortunate to have Mike’s perspective in our effort to ensure a vibrant natural gas and oil industry here, both today and into the future.”

Sommers’ visit follows the publication of a new economic analysis from API detailing the consequences of a federal ban on hydraulic fracturing. Such a ban would cost Colorado more than 350 000 jobs in 2022, and would lead to a cumulative GDP loss of US$7.1 trillion by 2030.

“Colorado’s vibrancy is simply too important to ignore,” continued Sommers. “The people of this great state deserve opportunity, and they deserve certainty, with respect to our shared energy future. We look forward to playing a central role in that future.”

API Colorado is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 600 members produce, process, and distribute most of the nation’s energy. The industry supports 10.9 million US jobs and is backed by a growing grassroots movement of millions of Americans. API was formed in 1919 as a standards-setting organisation. In its first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.

Read the article online at: https://www.worldpipelines.com/business-news/09032020/the-crucial-role-of-oil-and-gas-in-colorado/