April 18, 2012 01:29 AM UTC

You mean...We're not as important as we think?

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• by: Duke Cox

A new study done by a local economic research firm in NW Colorado kinda trips up the O&G lie about how significant they are to our economy. The local Chamber of Commerce head tells the tale, and is backed up with statistics.

http://www.craigdailypress.com…

Yampa Valley Data Partners report: Drilling crews leave small economic footprint in Northwest Colorado

By Scott Franz

April 16, 2012

“Chris Oxley has watched oil activity in Moffat County ebb and flow for years.

The Craig Chamber of Commerce executive director said Thursday that pipeline projects and oil drilling has filled area hotels, trailer parks and rooms in private residences. It’s also brought a buzz of activity to town.

But she said the buzz doesn’t tend to last long and the economic impact of oil rig workers who sleep and stay in Craig when exploration activity ramps up is smaller than people may realize.

Oxley said she and about 11 other business leaders met last week with Moffat County Natural Resources Director Jeff Comstock.

Oxley said the feedback she got from business owners from lodging, retail, real estate and construction companies at the meeting reaffirmed her long-held belief that drilling crews continue to have a minimal economic impact in Craig.

Scott Ford, a local economic analyst and an adviser for Yampa Valley Data Partners, said his recent analysis of the three phases of well development and his discussions with Shell Oil officials who are working in the region led him to predict the economic impact of drilling crews who work in Moffat and Routt counties will continue to be minimal His economic forecast stated that if drilling activity in Moffat County is as busy as it was in 2006, spending by drilling crews would result in $12,980 in sales tax revenue for Craig, and $18,221 for the state.

The O&G industry likes to claim it is one of, if not the, biggest drivers of Colorados’ economy. The truth is, it constitutes  far less than 4% of our economy and fewer than 10,000 jobs.