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In the last decade, Colorado has seen a six fold growth in natural gas production and triple the growth in crude oil production. Energy Information Administration, the average energy bills here are 23 percent less than the rest of the nation, largely because of natural gas, Dougher said.

LOVELAND F ossil fuels will be the chief way America and the world will get its energy for years, and those in the industry must strike a balance between the incredible growth that is propping up the economy and the environmental concerns that follow, said the American Petroleum Institute's senior economic adviser, Rayola Dougher.

Dougher said this "unconventional drilling," alone, is responsible for 1.7 million jobs across the country.

The industry also pumped $1.4 billion into the Colorado economy in taxes in 2011, equivalent to 15 percent of the state's tax revenue.

supply.

Nike Shox Turbo 14 City

Nike Shox Turbo 14 City

"When you add up what you would have been spending, were it not for this technology, it has important repercussions for the family budget," Dougher said.

The technology she speaks of is the advent of hydraulic fracturing coupled with horizontal drilling to get at the resources trapped in the tight shale rock a mile beneath the ground. She said continued innovation will only enhance production, and likewise enhance job growth.

"We're on a path now, because of a lot of these breakthroughs, to have 5 percent fewer emissions in 2040 than we had in our peak of 2005," Dougher said. "A large part of that is the shift more toward natural gas and energy efficiencies. A good part of the credit has to do with technologic innovations."

Dougher advocated for more development across the country to keep these numbers high, especially in offshore areas. She also advocated for completion of the XL Pipeline, a pipeline from Canada to the southern links of America's oil trade hubs, which has been under scrutiny for five years. oil entering into the international framework, she said, energy prices will stabilize, even when not so Nike Shox Turbo 14 City stable nations threaten the world's oil Nike Shox Blue

Last year alone, the United States put 1 million extra barrels of oil on the international market. That has translated to some of the best energy prices in the country, she said, saving American families roughly $926 a year in Nike Shox White Ebay

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In fact, America is experiencing a "stunning" energy revolution that is on pace to see the United States become a world leader and net exporter of oil and gas, some say as soon as 2030.

home energy costs.

"We were accustomed for decades of thinking that we had less oil, and have been making energy policy on that assumption. That entire vision has changed," Dougher said. "There are millions of new jobs, a great deal of government revenue and it is enhancing energy security."

As an example, she pointed to the average wage in the oil fields of $116,000 91 percent above Colorado's average wage.

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The importance of the industry and continued innovation in extracting the resources has proven to be a powerful ally for the United States, not only politically, but for jobs and taxes that have helped build more wealth in the country, she said.

Nike Shox Turbo 14 City

Nike Shox Turbo 14 City

"And by the end of this decade, that will be 3 million," Dougher said. "It's a significant driver of economic growth."

Colorado Business Report at the Ranch in Loveland. "But there seems to be a big divide between the . environmentalists and the oil developers. But they're not mutually exclusive. We can do both. Everyone in the community has to hold the industry to the highest standards. That should not be negotiable."

Nike Shox Turbo 14 City

Nike Shox Turbo 14 City

"What's happening here is absolutely phenomenal," Dougher said in an interview prior to her keynote address at the Energy Summit put on Tuesday by the Northern Nike Shox Nz Black Anthracite

´╗┐oil industry can co

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At the same time, she said, the industry must work in concert with government officials and residents concerned about safety. She said the industry, too, shares concerns about the environment. They've been stewards of best practices since World War I, she said.

Nike Shox Turbo 14 City

Nike Shox Turbo 14 City

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