A Fracking Ban Would Cost Colorado

A Fracking Ban Would Cost Colorado

March 9, 2020

The American Petroleum Institute (API) is a trade association that 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 natural gas and oil industry supports 10.9 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. This weekend, API’s President and CEO, Mike Sommers, visited Colorado.

As World Pipelines reports:

“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 U.S. $31.4 billion per year to Colorado’s economy alone.” 

Sommers explained that it was important he come to Colorado and speak with community leaders considering current national policy movements, many of which include a proposed ban on fracking. Local communities, states, and the general public need to understand exactly how devastating this would be.

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. 

These findings complement our study, which reveals that if the Green New Deal became law, which would involve a ban on fracking, it would cost the typical Coloradan household about $74,000 in just its first year of implementation and over $40,000 every year after that.

It’s easy to get caught up in ideological talking points, especially during campaign season, but no candidate can talk their way out of these facts. We are committed to reminding people of them.