Did you know…?
Nearly three quarters of Colorado households use natural gas to heat their homes.
—Colorado Energy Office (Colorado.gov)
According to the U.S. Energy Information Administration, uses for oil and natural gas span “nearly all sectors of the economy.” The cars, buses, and trains people use to get to work, the computer or phone you’re using to read this, the kitchen at your favorite restaurant, and even the heaters that keep our homes and businesses warm, are all powered by oil and natural gas.
Yes, even the portable stoves that are a favorite among the millions of visitors to our state’s parks and outdoor sites rely on fuel provided by fracking.
Here in Colorado, oil and natural gas unlocked by fracking, powers almost every aspect of our modern lives. 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.”
Colorado is the second least energy-expensive state to live in the U.S.…WalletHub also notes that Colorado residents enjoy exceptionally low natural-gas prices.
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.” But the benefits of fracking go beyond Colorado.
In 2013, America’s fracking revolution paved the way for the United States to become a world-leading producer of oil and natural gas. In fact, a 2015 analysis from the Emory University School of Law argued that America had “returned to the role of energy-producing superpower” thanks to “a technological revolution in natural gas and oil extraction.”
Across the United States, fracking is setting the bar from global energy production to growing household incomes. A 2016 nationwide study performed by leading economists at the University of Chicago Energy Policy Institute and others, found that fracking boosts local economies to the tune of roughly $1,900 per household. “This study makes it clear that on net there are benefits to local economies,” wrote co-author Chris Knittel. Since then, according to Forbes, continued advancements in energy production have made natural gas more affordable, meaning “U.S. industrial electricity costs are 35-60% lower than those of foreign competitors, and our home prices are just a third of those in Europe.”
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.