Study quantifies oil and gas impact on state economy

A new study by University of Colorado Leeds School of Business verified what many already suspected: The oil and gas industry plays a vital role in the Colorado economy. Between 2010 and…




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This is not the whole picture in Colorado. It appears that you took just one piece of the report to play to the locals without reporting on the whole economy.

If oil and gas “nearly 3 percent of all Colorado salary and wages in 2012” it is a minor, not major employer. 97% of all Colorado wages come from other industries.

Not sure if this is the same report you read, http://leeds.colorado.edu/asset/brd/cbr7932013.pdf , but if it is, it also includes these gems: “With Colorado manufacturing employ-
ment at approximately 132,000 jobs in May 2013, this is the second year in a row that the Manufacturing Sector has expanded in Colorado after 10 straight years of job losses starting
in 2001.” (So, manufacturing employs twice the number of people that are directly employed by the oil and gas industry.)
And
“According to the December forecast, 10 of the 11 sectors analyzed were projected to gain jobs, with Information being the only sector
expected to decline. The magnitude of growth has exceeded expectations, and our statewide employment forecast has been revised upward from 1.8% to 2.5% for 2013. Overall,
the committees remain confident that Colorado will continue
to experience employment growth”
And
” Fourth quarter 2012 Quarterly Census of Employment and Wages (QCEW) results indicate Construction; Trade, Transportation, and
Utilities; and Information will undergo the greatest upward revisions to payroll jobs estimates, while Leisure and Hospitality, Government, and Manufacturing are expected to see the greatest downward revisions.”

Ah, now I understand why this story doesn’t tell the whole story. You didn’t go to the actual study for information, you went to the oil and gas industry: http://www.coga.org/index.php/FastFacts/EconomicsTaxes#sthash.LXPExndJ.1cKTGtJ6.dpbs
Shame on you.

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