The U.S oil industry is boosting the economy

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Even as America grabbles with its love-hate relationship with fossil fuels, the ongoing fracking revolution that’s turned the U.S. into the leading global oil producer is shoring up the economy — and helping to tame carbon emissions, too.

The most influential example is the rise of fracking — extracting oil and natural gas from rock formations under the continental U.S. that had long been considered inaccessible. The U.S. has become the world leader in fracking by far. – read link

Colorado In 2017, oil and gas production accounted for 89,000 jobs statewide and $13.5 billion dollars in economic output. Weld County remains the state’s leading producer of oil and gas, accounting for 89 percent of the oil production and 43 percent of the natural gas output. read link

Yet in Colorado, Democrats will soon introduce a bill overhauling the Colorado Oil and Gas Conservation Commission’s oversight of the $31-billion industry, among other reforms.

Other numbers in the study included:

-More than 1,100 businesses across the state are part of the oil and gas supply chain.

-More than 260 of those companies are in Denver.

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