Government officials and other experts, including senior members of the Obama administration, have studied hydraulic fracturing for decades. They have repeatedly concluded that it’s a safe, regulated, and essential technology for producing oil and gas, and can be safely conducted in our communities. But that’s not the only reason to support hydraulic fracturing.
Hydraulic fracturing is responsible for creating new jobs and boosting the economy, locally, state-wide, and across the county. In Loveland, each proposed energy well will support 100 jobs. Additionally, a study by economists at Bank of America found domestic oil and natural production is keeping the U.S. out of another recession and “beginning to carry America.”
Thanks to hydraulic fracturing, we’re producing and using more natural gas, and less coal, to generate electricity. Natural gas is much cleaner than coal, helping to cut U.S. carbon emissions to their lowest level in almost 20 years.
Higher natural gas production from hydraulic fracturing has also dramatically reduced natural gas prices, which means families and businesses are saving money on their utility bills. Responsibly produced energy from Colorado keeps our energy bills among the lowest in the nation – 23 percent less than the national average – saving us money as we heat our homes. Natural gas is also helping renewable energy expand. Colorado has been on the forefront of promoting renewable production, but solar and wind power need natural gas power plants as a backup source when the wind doesn’t blow and the sun doesn’t shine.
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