A new report by a national industry group that says oil and gas development supports hundreds of thousands jobs in Colorado arrives amid robust discussions on the economic recovery and energy future of the state and nation.
The report released Tuesday by the American Petroleum Institute said oil and gas supported 69,000 direct jobs and 271,000 indirect jobs in Colorado in 2019, which is the latest data available. Nationally, the report found the industry supported 2.5 million direct jobs and 8.8 million indirect jobs, 5.6% of the total U.S. jobs.
The report’s findings on the industry’s economic contributions are important as the country rebounds from the pandemic and considers energy policies, said Frank Macchiarola,API’s senior vice president of policy, economics and regulatory affairs.
However, an analyst with an institute that supports a diverse energy economy, questioned whether some of the report’s numbers are inflated. The report lacks transparency, said Tom Sanzillo, director of financial analysis for the Institute for Energy Economics and Financial Analysis.
[Judith Kohler ]