New reports show billion-dollar impact of oil, gas on TX, CO

By Luke Geiver | October 15, 2018

Record oil and gas production throughout the Texas shale plays in the Eagle Ford and Permian areas has helped commercial and industrial users save more that $60 billion between 2006 and 2016. A new report issued by the Consumers Energy Alliance shows that commercial energy users saved $7.2 billion and industrial users saved $52.4 billion thanks to the use of natural gas sourced from Texas.

The report was put out during a labor forum attended by the International Union of Operating Engineers.

“At IUOE Local 450, we have filled more than 2.400 requests for certified candidates between January 2017 and October 2018, filling over 1,150 such requests in the first nine months of 2018 alone,” said Brandon Willis, public affairs agent for IUOE. “None would have been made possible without the development of our state’s resources, which has fueled a resurgence, put thousands back to work and reduced energy costs. To keep this going, local, state and federal policymakers must embrace every opportunity to show their support for energy.”

To impact of oil and natural gas development on users or on the job market has not been limited to Texas. The CEA also issued a report detailing energy production the state of Colorado. In the state consumers and industrial users of energy have saved a combined $12.4 billion in the past decade.

“Colorado has fast become one of America’s leaders in safe, economical oil and natural gas production, rejuvenating communities statewide and helping families and businesses of all sizes reduce expenses, growth and prosper via abundant sources of locally-made, affordable energy,” CEA executive vice president Andrew Browning of Denver said.

Click here for the Colorado report or here for the Texas report.