Jobs and Economy
Colorado has rich oil and natural gas resources which yield thousands of jobs and billions in revenue for Rocky Mountain residents and the federal treasury.
Just how much oil is in the Rocky Mountain region?
According to Bloomberg, Colorado, Utah and Wyoming have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
The oil shale deposits in Colorado hold an estimated 1 trillion barrels of oil — that’s nearly as much as the entire world’s proven oil reserves (Source: US Energy Information Agency).
Colorado is also home to ten (10) of the Nation’s 100 largest natural gas fields and three (3) of its 100 largest oil fields are found in Colorado. (Source: Colorado Oil and Gas Association)
This is a major economic driver for Colorado jobs and revenue, but also provides a stable, reliable source of energy for Colorado residents. More than 75 percent of residential homes use natural gas as their primary energy source for home heating, which is one of the highest shares in the nation. (Source: Colorado Oil and Gas Association).
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