Colorado is a leading oil and gas producer in the country and could be a part of the solution in the current oil and gas strain. via IvanRodriguezTV
“A lot of people are looking at these higher prices saying, ‘Why don't you just drill more and produce more oil?’ and it's a pretty complicated answer,” said Dan Haley, president and CEO of the Colorado Oil and Gas Association.
“We know we need oil and natural gas for decades to come in this country. So, we need to have that conversation. We need to have a decision to say, 'Where do you want to get this resource from? Do you want to rely on Russia? Or do you want this product to be produced here in this country and in Colorado, where I would argue we are producing oil and natural gas cleaner, better and safer than most anywhere on the planet?'” Haley said.
“There’s over 2,000 in Colorado that have been approved, but haven’t been used," Polis said."It is really a matter of when and how the industry chooses to invest and raise capital. Certainly, if oil prices are sustained at over $100 a barrel for a long period of time, it will lead to increased production."
“A permit to drill is not the only permit we need on federal lands. We need rights of way to put in place pipelines and natural gas gathering lines because of regulators and market signals,” Sgamma said.“If we can't get capital, then we can't develop wells, because they're multi-millions of dollars to develop any given well,” Sgamma said.
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