OREANDA-NEWS. The American Petroleum Institute’s (API) President and CEO Jack Gerard and Colorado Petroleum Council (CPC) Executive Director Tracee Bentley hosted a luncheon event in Denver today with Governor John Hickenlooper to discuss the future of oil and natural gas development in Colorado. The event highlighted the energy issues that will shape Colorado and America’s economic and political news this year.

“Coloradans understand that the oil and natural gas industry can provide well-paying jobs and remain a significant driver of economic activity and important source of government revenue,” said Gerard. “API has a history of working closely with local government leaders and regulators to share technical expertise for safe and reliable development of affordable domestic energy for Americans. One of our chief goals is to foster broad bipartisan dialogue and support for all-of-the-above, pro-energy policies.”

The industry contributes $25.8 billion to Colorado’s economy and accounts for 9.1 percent of the state’s total economic activity. A study conducted by the University of Colorado Boulder’s Leeds School of Business found that school districts in Colorado receive hundreds of millions of dollars from oil and gas production property taxes.

“Colorado is leading the way as part of our nation’s energy renaissance that has helped to make America the number one oil and gas producer in the world and reduce our nation’s dependence on foreign sources,” said Bentley. “We can work together to take full advantage of the opportunities throughout the state to create jobs and bolster the economy for decades to come.”

The Colorado Petroleum Council is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 650 members produce, process, and distribute most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.