FOR IMMEDIATE RELEASE
Director of Marketing & Communications
American Supply Association
(630) 467-0000, X 203
ASA Joins Effort to Protect Hydraulic Fracking in Colorado
Itasca, IL - February 19, 2014
- In the state of Colorado, over forty local and national anti-shale organizations have joined forces to limit the use of hydraulic fracturing (fracking); first through a series of municipal bans and then culminating in a state-wide 2014 ballot initiative on banning hydraulic fracturing throughout the state. If successful in Colorado, the national groups will move to the next target state.
ASA has joined an effort headed by the Energy Equipment and Infrastructure Alliance to oppose this effort to limit the ability to tap into the vast gas and oil exploration, production, transportation and processing operations in Colorado. “In supporting the association's engagement in this state initiative, ASA's Executive Committee cited the need to engage at a local level and derail issues detrimental to the health and vitality of the industry instead of waiting until it becomes a national issue with momentum,” said ASA Executive Vice President Michael Adelizzi. “Even if they were not directly competing in this market segment, ASA members urged the association to engage in this effort to protect our industry’s interests,” he added.
Horizontal drilling and hydraulic fracturing have unlocked vast new reserves of crude oil and natural gas in the State of Colorado. These technologies have enabled production to grow rapidly, with annual crude output rising from 45,000 barrels per day in 2001 to 135,000 in 2012. Crude reserves are estimated as high as 2 billion barrels. Natural gas production has more than doubled in the same period. (Energy information Administration). Colorado jobs in oil and gas and supporting industries (nearly 80,000 today) have also grown dramatically, along with their contributions to the local and state economies. Forecasts predict another 100,000 along current and projected trends (IHS Global Insight). Noble Energy alone, one of the major producers operating in Colorado, expects to invest $10 billion in the state over the next five years. Anadarko Petroleum invested $1 billion in 2012 and will invest billions more over the next several years.