El Paso County stands to benefit from renewed focus on domestic energy production if current exploration determines the county lies over part of the abundant Niobrara oil shale deposit.
But could the disadvantages outweigh the advantages?
That’s what a class of 25 master’s-level UCCS business students investigated. They will release their findings at a public meeting at 4:45 p.m. May 11 in Dwire Hall 121. The meeting is open to the public.
The comprehensive project researched environmental impact, economic impact, and oil and gas profitability in the county.
“Successful energy exploration and development could create hundreds of well-paying jobs, diversify the tax base, and increase local GDP by as much as 5 percent,” Fred Crowley, senior instructor, College of Business, and associate director of the Southern Colorado Economic Forum, said
Crowley said oil and gas exploration could provide a more than $1 billion boost to the local economy.
“The challenge for us is, how do we capture those jobs and incomes plus the jobs and incomes of the related service industries that don’t even exist here yet?” Crowley said.
The students have invited public and private decision makers to the presentation in the hope that their research will aid in the decision making process as local governments and business organizations grapple with policymaking related to the emergence of this industry.
–Jana Hyde, College of Business
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