According to a recent economic study released by the Colorado Oil & Gas Association (COGA), the oil and natural gas industry plays a pivotal role in bringing substantial economic benefits to Colorado.
Here are some specific benefits of the oil and gas industry in our state:
Average household energy costs in Colorado ($1,551 per year) are 23 percent less than the national average, primarily due to historically lower natural gas prices in the state.
In 2012, the oil and gas industry pumped $29.6 billion into the Colorado economy and supported over 110,000 high-paying jobs.
As much benefit as we have already seen from this industry, natural gas production in Colorado could increase dramatically over the next few years due to the Department of Energy recently clearing the way for more gas to be exported.
Colorado, which is already one of the Top 5 producers of natural gas in the country, could become a leading exporter.
We track this information because it points to greater investment into Colorado and a more stable economy. Be sure to follow us on Twitter where we Tweet about these kinds of topics and others that affect our real estate market. Feel free to ask us any real estate related questions. Your questions lead to our blogs. Click here to Contact Us to ask questions or suggest topics. We really listen.