Uncertainty in the national and global economic

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Unformatted text preview: latility for energy prices in 2012. Nonetheless, Colorado will likely see increases in oil and gas drilling, and the associated economic benefits. New technologies aimed at new resource plays, along with renewed attention toward developing North American energy resources, will help drive this growth regionally. The total value of oil, gas, and carbon dioxide production in 2010 was $8.9 billion, a 23% increase from the 2009 value of $7.3 billion. The value of oil, gas, and carbon dioxide production for 2011 is projected to be about $10.4 billion, or 16.4% $ Millions 18,000 greater than 2010. For 2012, the value of Colorado’s production is forecast at about $10.7 billion— a modest increase in line with the slow recovery pace for the economy as a whole. While gas prices are likely to remain low, unforeseen volatility in oil prices could significantly impact the 2012 forecast. Oil and Gas Oil In 2010 and 2011, the U.S. petroleum benchmark known as West Texas Intermediate (WTI) fluctuated in a range betwee...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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