Natural gas industry worth more than twice the ski industry

The Associated Press

Natural gas production is worth as much as $5 billion to the state of Colorado, twice as much as the ski industry, says the executive vice president of the Colorado Oil & Gas Association.

“That doesn’t include all the investment in pipeline infrastructure and gathering systems, compression and power plant systems we’ve added,” Greg Schnacke said in early August.

The industry pays $75 million a year in property taxes.

And Colorado is one of the few states increasing oil production, adding about 3 percent a year, Schnacke said. “That’s enough to fuel 600,000 cars,” he said. The state ranks 12th in oil production with 22 million barrels a year.

“We expect to see the Rocky Mountain region (gas) production increase to about 6 trillion cubic feet a year, while the country is producing about 22 trillion cubic feet,” Schnacke said.

Schnacke said the production increase would be even larger except for resistance from groups who oppose production in their areas.

“Today, 29 percent or 69 trillion cubic feet of gas in the Rocky Mountains is effectively off limits. We’ll never see it,” he said.