Colorado Ballot Issues – Vote No on 112
According to a study released by the Common Sense Policy Roundtable (CSPR) and the REMI partnership, Proposition 112 would eliminate over $26 billion annually in state GDP. More than $1 billion in tax revenue would be deducted from Colorado’s economy with oil and gas serving the area with a large portion of its primary jobs. 77% of all jobs lost would be outside of the oil and natural gas industry – although indirect the consequences would be severe.
This latest study also reinforces a recent analysis conducted by the Colorado Oil and Gas Conservation Commission (COGCC) showing that Proposition 112 would put 85% of the state off limits to new oil and natural gas development.
Voting Yes on Proposition 112 Would Affect More Than Just Oil & Gas Industry Jobs
To many a voter’s surprise voting yes on 112 does not actually just impact jobs which are directly related to drilling. In fact, extraction or drilling only accounts for 23% of the industry’s employees while the remaining 77% of its employment is accounted for in other job sectors. With a rapidly growing population in Colorado, and especially Greeley, which is 1st in the nation for population growth, it is crucial to vote in favor of not only job retention, but job creation and the longevity of a diverse set of careers. Industries which are often correlated with the oil and gas industry include:
- Retail trade
- Professional, scientific & technical services
- Health care & social assistance
- Accommodation & food services
- State & local government
- Other services
- Administrative, support, waste management & remediation service
- Real estate & rental leasing
- All other industries
The Impact of Job Loss
When jobs are lost, or when not enough are created to support local and state economic functions, the impacts can be devastating. Within one year at least 43,000 jobs would be lost, and by 2030 there would be a decline in about 147,000 jobs. This does not only affect industry employees – 82% of oil and gas revenue is given back to local communities where production occurs to support schools, neighborhood development, charitable organizations, and other programs which support long term economic growth, diversification, well-being and community. The Greeley Chamber has a longstanding history in which it has continuously supported economic wealth, growth and independence.
Reckless energy setbacks being pushed by extreme out-of-state groups would wipe out hundreds of thousands of jobs and devastate Colorado’s economy for years to come as well as limit economic vitality and growth on Colorado’s eastern plain. Stand with Colorado communities and workers: Vote NO on 112.