More than 110,000 Colorado jobs are supported by this industry and are at stake. In 2012, the Leeds School of Business at the University of Colorado Boulder, released an assessment of the Oil and Gas Industry’s Economic and Fiscal Impacts in Colorado that found the oil and gas industry provided $29 billion in economic output annually. Read more about these economic impacts here.
According to a March 2014 report from the Business Research Division of the Leeds School of Business at the University of Colorado Boulder, a fracking ban would have catastrophic implications in Colorado. Their model showed, given a fracking ban beginning in 2015, the economic consequence would be an average $8 billion in lower gross domestic product (GDP) and 68,000 fewer jobs in the first five years. Moreover, a ban’s impact on production would leave Colorado jurisdictions with an average revenue loss of $567 million over the first five years. Read more about the REMI Model here.