Maintaining a steady supply of safe and affordable domestic oil and natural gas not only creates good jobs and benefits local communities, but also supports our manufacturing and small business economy. According to a 2016 report from the American Petroleum Institute (API), oil and natural gas comprises roughly 8% of the United States GDP.
That’s no small accomplishment.
Across the United States, safe, responsible energy development touches almost every aspect of our economy. Fracking helps lower gas prices, keeps energy costs low, funds our schools, supports small businesses, and protects Colorado’s thriving outdoor recreation industry. Additionally, the U.S. Chamber of Commerce found that America’s fracking revolution is creating jobs and making U.S. chemical manufacturing more competitive. According to the article, “by unlocking immense amounts of natural gas, fracking has been a catalyst for new, job-creating manufacturing investment.”
This is key for our state. In Colorado, our oil and natural gas sector supports thousands of good jobs ranging from drilling to research to extraction. And thanks to the hard work of engineers who continue to advance and improve fracking technology and the folks responsible for maintaining drilling equipment, Colorado is one of the largest natural gas producers in the U.S. and a global leader in energy development.
No matter how you do the math, fracking is critical to Colorado’s energy future and America’s economy. Lower energy prices and good oil and natural gas jobs continue to help make real economic progress possible.