"Oil and Gas Production in Colorado is Important"
Sen. Jaquez Lewis and Sen. Priola have introduced Senate Bill 24-159. The bill would cease drilling in Colorado after 2032, prohibit the ECMC from permitting new oil and gas wells after 2028 and limit the number of permits in 2028 to 660 and in 2029 to 330, meaning Colorado production would fall rapidly with implementation.
In a Feb. 15th interview with the Denver Gazette, Sen. Jaquez Lewis first states "oil and gas production in Colorado is important" but then goes on to ask "So, Colorado already produces much more oil and gas than we use, and what is currently happening is we're exporting 40% of oil production is leaving the state of Colorado, 75% of natural gas is leaving the state of Colorado...we're just asking why is it being exported? It's our state resources. Why are they exporting it? Why are we not able to have it here for Colorado...?"
Here's why, Senator. In the image at the bottom are the states listed with their net natural gas usage (production less consumption) for the year 2022. Only 12 states produce more natural gas than they consume. The remainder rely on those 12 states, or other imports, to ensure they have sufficient energy.
Natural gas, in addition to directly fueling peoples' furnaces, stoves and hot water heaters, is also the single largest source of electricity generation in the US, ~42% in 2023. The January 2024 winter storm set new single day electricity demand records in SPP and ERCOT. The storm set records for the second-highest electricity demand in the Southeast (after Winter Storm Elliott), the third-highest in PJM, and the fourth-highest in MISO. Imagine the outcome if the "have" energy states all thought like Sen. Jaquez Lewis, leaving the have-not states without. People's lives quite literally depend on the oil and natural gas that Colorado exports, and yet the Senator asks why we don't keep it all to ourselves?
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The production of oil and gas is not without impact. We in the industry, and those communities within which we operate, know that. Together, we are all working hard to reduce those impacts to the lowest possible levels. Colorado leads the nation in these efforts. However, when measured against the impacts of living without access to affordable, reliable, abundant energy, I think it's clear that the pros of oil and gas production far outweigh the cons. I believe that no one in Colorado would wish those in neighboring states would have to do without sufficient energy to heat their homes, keep their lights on and prepare meals for their family during a serious winter storm, or any other time for that matter. That, Sen. Jaquez Lewis, is why Colorado exports energy.
I hope you'll all join me in voicing your opposition to this bill, ensuring Colorado continues to provide energy to our neighbors in this great nation and to so many other nations who desperately need our oil and gas.
#oilandgas #naturalgas #energy #energypoverty
Business Development
1 年Ethical energy exploration and production should be encouraged. CO is a great example of this. Hopefully the state continues to encourage investment and share their best practices with other jurisdictions.
Retired engineer and economist
1 年Plus most states would welcome a reliable base industry that exported a good, commodity, or service because that’s what brings revenues in. These senators are woefully ignorant about economics.
Ignorance and lack of education. This is what happens when the state is controlled by one party. Agenda based on the wants of the party, not the needs of the citizens.
Strategic Advisor | Management Consultant | Interim/Fractional Leader
1 年According to the graphic, California is the largest importer of gas. How's that working out? Have you seen the energy prices in CA? Let's not mimic California here in Colorado.
Tailing Operator at Freeport-McMoRan
1 年Yet another example of ignorance and a desire to further control our lives. We are moving a long way from Life, Liberty and the pursuit of happiness.