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Colorado’s Energy Economy: What is Colorado’s national and global position in the energy economy?
Wednesday, April 9, 2014
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COLORADO’S ENERGY ECONOMY
What is Colorado’s national and global position in the energy economy?
Wednesday, April 9, 2014
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WELCOME
Bruce AlexanderPresident & CEO
Vectra Bank Colorado
Mark WilliamsSenior Member
Sherman & Howard
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SPEAKER INTRODUCTION
Mark WilliamsSenior Member
Sherman & Howard
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TOM CLARKChief Executive Officer, Metro Denver Economic Development Corporation and Executive Vice President, Denver Metro Chamber of Commerce
• More than 30 years of economic development experience at the state, regional, county and city levels.
• Career spans four decades from Director of Commercial and Industrial Development for the Illinois Department of Commerce and Community Affairs through positions with numerous chambers of commerce across the metro area.
• Holds bachelors degrees in speech and psychology from Minnesota State University and a Masters in Public Administration from the University of Illinois.
• Founder and first president of the Metro Denver Network, the Metro Denver region's first economic development program.
• Recipient of the Arthur D. Little Award for Excellence in Economic Development and chosen as one of the nation's top economic development professionals by the Council on Urban Economic Development.
COLLABORATION AND CLUSTER DEVELOPMENT – BUILDING A COMPETITIVE ECONOMYTom ClarkCEOMetro Denver Economic Development Corporation
Business for Breakfast – Vectra Bank
“Companies don’t locate in cities. They locate in ‘places’.”
“Where custom fails, law prevails.”
“Laws are sand, customs are rock. Laws can be evaded and punishment escaped but an openly transgressed custombrings sure punishment.”
-Mark Twain-
Our Mission• Assist primary employers to locate and expand in the nine-
county Metro Denver region• Serve as the primary global marketing organization for
new jobs in Metro Denver• Provide economic development services to our partners
that they cannot afford themselves including:• Massive data bases, regional web site with GIS, econometric
models, full-time economist, trade and prospect missions, increased air service
• Provide “first money in” for major economic opportunities for the region or to fight back the “Forces of Darkness”
• Promote, support and assist in creating a “culture of cooperation” in economic development throughout the region and the State of Colorado
Some History• A major recession – 1982 – Oil shale collapses when Saudis turn on the tap. “Balkanized cities” – cutthroat economic development, stealing companies from each other, speaking “ill” of one another
• Chasing prospects so vigorously that we chased them to Scottsdale, Dallas and Kansas City
• Determined to “sell our region in the manner our prospects saw us – not a series of cities and counties, by a “place” called “Denver”
Seeing the world through the lens of employment clusters…Dr. Michael Porter’s work
• Companies “cluster” to exploit a resource – oil, labor, water, research and development access…
• Most competitors identify their clusters’ competitive advantage and then chase companies within them.
• We see the economy through the eyes of our clusters…this drives differentiated decisions on everything from tax and regulatory policy to major infrastructure projects.
• “If you don’t know where you are going, any consultant will take you there.”
Innovation Clusters in Metro Denver
Metro Denver Industry ClustersMetro Denver Industry Clusters2007 - 2012
Metro Denver Industry Clusters2013
Cluster Advocacy Groups Drive New Jobs
Aerospace Energy Aviation Bioscience IT
CO Energy
Coalition
Space Coalition
CBSA CTAMetro Denver Aviation Coalition
C3
Does cooperative economic development work?• 1985 – 30% closure rate• 2011 – 52% closure rate
• Eliminating “cognitive dissonance” among customers increases our ability to beat out competitors
• Examples: Vestas, Arrow Electronics, DaVita, Charles Schwab and many, many others
Does “cluster” strategy work?• 80% of locations in past eight years have come from
cluster companies• Over 60% of expanding or relocating companies have
been within clusters
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SPEAKER INTRODUCTION
Kirk MonroeEVP, Director of Wholesale Banking
Vectra Bank Colorado
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SCOTT PRESTIDGEEnergy Industry ManagerMetro Denver Economic Development Corporation (EDC)
• Focuses on economic development, policy formation, and management of the in-house energy trade association, the Colorado Energy Coalition.
• Formerly worked as the Metro Regional Director for U.S. Senator Mark Udall.
• Bachelor’s Degree in Political Science and a Bachelor’s Degree in Spanish from the University of Colorado in Boulder, as well as a Master’s Degree in Public Policy from the University of Colorado in Denver.
Resource Rich Colorado
Colorado’s National and Global Position in the Energy Economy
Fifth Edition, December 2013
Resource Rich Colorado
Acknowledgements
Competitive Analysis Committee Members
Chris Hansen, IHS, Committee ChairJohn Armstrong, Enserca LLC
Tim Bennet, Flood and PetersonBeth Chacon, Xcel Energy
Larry Holdren, Pure Brand CommunicationsBrian Payer, IHS Corporation
Michael Pomorski, Encana Corporation
Oil
Fig.1
$0
$20
$40
$60
$80
$100
$120
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
DollarsperBarrel
Crude Oil Prices, 1999-2012Prices for Colorado-produced oil trend below the national average;
U.S. average price in 2012 was $94.05 per barrel
U.S.CrudeOil$/Barrel
ColoradoCrudeOil$/Barrel
Source:U.S.DepartmentofEnergy,OK‐WTI,EnergyInformationAdministrationNote:Crudeoilincludesleasecondensaterecoveredasliquidfromnaturalgaswells
Coloradocrudeoil$85.78
COranks9thinproduction
49millionbarrels
0
100
200
300
400
500
600
700
800
TX ND CA AK OK NM LA WY CO KS
MillionBarrelsperYear
Crude Oil Production by State, 2008-2012Colorado ranks 9th in crude oil production; Colorado production
is on the rise
2008
2009
2010
2011
2012
Source:U.S.Department ofEnergy,EnergyInformationAdministrationNote:Crudeoilincludesleasecondensaterecoveredasliquidfromnaturalgaswells
Fig.2
0
100
200
300
400
500
600
700
800
900
1,000
TX OK ND NM PA LA CO WY CA UT
Num
berofRigs
Rotary Rig Count, 2008-2012DJ-Niobrara formation driving Colorado rotary rig count activity; 2,301 new wells were drilled
in 2012; as of October 2013 there were 51,426 active wells in Colorado
2008
2009
2010
2011
2012
Source:BakerHughes;ColoradoOilandGasConservationCommissionNote:Number ofrigsisannualaverage
COranks 7thinaverageannualrotaryrigcount;65rigsin2012
Fig.3
COranks9thinreservesat
555millionbarrelswitha7.03%annualutilizationrate
6.54%
5.32%
6.45%
5.76%
6.78%7.40% 5.98%
4.47% 7.03% 13.14%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
TX AK CA ND OK NM WY UT CO LA
MillionBarrels
Crude Oil Reserves & Utilization RateTechnology improvements contribute to growing reserves
Reserves2009
Reserves2010
Reserves2011
Production2011
Source:U.S.DepartmentofEnergy,EnergyInformationAdministrationNote:Utilizationrateistheamountofreservesdeveloped/producedannually;crudeoilreservesincludeleasecondensate
Fig.4
Fig.5
Map of Crude Oil and Refined Products Infrastructure
0
5
10
15
20
25
MillionBarrelsperDay
U.S. Crude Oil Production & Consumption, 1973-2012Gap is narrowing; domestic production increasing since 2009;
domestic consumption decreasing since 2006
U.S.Production
U.S.Consumption
Source:U.S.Department ofEnergy,EnergyInformationAdministration
Canada13.6%
Saudi Arabia7.2%
Venezuela4.8%
Russia 4%Mexico 2.4%
Other 8%
U.S. 60%
Where does the U.S. get its oil?
Fig.6
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
SaudiArabia Russia U.S. Iran China Canada UnitedArabEmirates
Venezuela
MillionBarrels
Oil Production Leaders, 2008-2012U.S. ranks 3rd in production; domestic production on the rise
20082009201020112012
Source:International EnergyAgency,2009‐2013KeyWorldEnergyStatisticsNote:Includescrudeoil,naturalgasliquids,feedstocks,additives,andotherhydrocarbons
Topeightproducersrepresentover55%ofglobalproduction;totalglobal productionfor2012was30.4billionbarrelsU.S.ranks3rdin
globalproductionwith2.84billionbarrels
Fig.7
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
U.S. China Japan India SouthKorea Germany Italy France
MillionBarrels
Top Net Importers of Crude Oil, 2007-2011U.S. ranks 1st in oil imports; imports are decreasing and 2012 was lowest
annual average since 1991
2007
2008
2009
2010
2011
Source:InternationalEnergyAgency,2009‐2013 KeyWorldEnergyStatisticsNote:Includescrudeoil,naturalgasliquids,feedstocks,additives,andotherhydrocarbons
U.S.ranks1stin oilimports
with3.67billionbarrels
Fig.8
Natural Gas
$0
$1
$2
$3
$4
$5
$6
$7
$8
$9
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
DollarsperThousandCubicFeet
Natural Gas Wellhead Prices, 1999-2012Colorado price trends below the national average
to account for fuel transportation costs to markets outside the state
U.S.NaturalGas
ColoradoNaturalGas
Source:U.S.DepartmentofEnergy,EnergyInformationAdministration;2011and2012COpricedataestimatedNote:TransportationallowanceaccountsforthecosttomovenaturalgastomarketsbeyondColoradoborders
COpricein2012was$2.33
Fig.9
0
1
2
3
4
5
6
7
8
TX LA PA WY OK CO AR NM WV UT
TrillionCubicFeet(Tcf)
Natural Gas Production by State, 2008-2012Colorado ranks 6th in production; production is increasing
due to technology improvements
2008
2009
2010
2011
2012
Source:U.S.DepartmentofEnergy,EnergyInformationAdministrationNote:ToptenproducersincludingColorado
COranks6thin production1.6(Tcf)
Fig.10
COranks6thinreservesat24.82(Tcf)witha6.41%
utilizationrate
7.45%
5.88%10.02%
6.66% 9.32%
7.56% 7.44%
0
20
40
60
80
100
120
TX WY LA OK PA CO AR NM
TrillionCubicFeet(Tcf)
Natural Gas Reserves & Utilization Rate Technology is contributing to growing reserves nationwide
2009Reserves
2010Reserves
2011Reserves
Production2011
Source:U.S.Department ofEnergy,EnergyInformationAdministrationNote:TopeightstatesincludingColorado;utilizationrateistheamountofreservesdeveloped/producedannually Fig.11
0
5
10
15
20
25
30
1950 1960 1970 1980 1990 2000 2010
TrillionCubicFeet(Tcf)
U.S. Natural Gas Production & ConsumptionDomestic production has increased steadily since 2006; low price of natural gas
has increased power and industrial consumption
NaturalGasProduction
NaturalGasConsumption
Source:U.SDepartmentofEnergy,EnergyInformationAdministration Fig.12
Map of Natural Gas Pipeline Infrastructure
Fig.13
Fig.14
‐
2
4
6
8
10
12
14
16
18
20
22
24
26
2007 2008 2009 2010 2011 2012
BillionCubicFeetperDay
U.S. Shale Gas Production by Major Resource Play
Technology has led to quickly expanding resource development
EagleFord(TX)
Woodford(OK)
Marcellus(OH,WV,PA,NY)
Haynesville(TX,LA)
Fayetteville(AR)
Barnett(TX)
Source:HPDI;EncanaCorporationNote:LegacyproductionintheNiobraramakesithardtodifferentiateshaleresourcedevelopment;7.5BcfperdayfromRocky MountainRegion
Fig.15
0
5
10
15
20
25
30
U.S. Russia Qatar Iran Canada Norway China SaudiArabia
TrillionCubicFeet(Tcf)
Natural Gas Production Leaders, 2008-2012U.S. is 1st and growing; top 8 producers equal 62.0% of global production
2008
2009
2010
2011
2012
Source:InternationalEnergyAgency
U.S.ranks1stwith19.8%of
globalproduction24.05(Tcf)
Fig.16
0
1
1
2
2
3
3
4
4
5
5
Japan Germany Italy SouthKorea Turkey U.S. France U.K.
TrillionCubicFeet(Tcf)
Top Net Importers of Natural Gas, 2008-2012U.S. imports declining due to increases in domestic production
20082009201020112012
Source:InternationalEnergyAgency
U.S.ranks6thinnaturalgas
imports1.52(Tcf)
Fig.17
Coal
$0
$20
$40
$60
$80
$100
$120
$140
$160
VA AL WV TN PA KY OK MD IL IN CO
DollarsperShortTon
Coal Prices by State, 2011-2012Price differences may be due to variations in production costs,
transportation costs, and coal qualities
2011
2012
Source:U.S.DepartmentofEnergy,EnergyInformationAdministrationNote:Toptenstatesplus Colorado;short tonequals2,000pounds
COranks12thincoalpricesat
$37.54pershortton
Fig.18
0
50
100
150
200
250
300
350
400
450
500
WY WV KY PA IL TX IN MT CO ND
MillionShortTons
U.S. Coal Production by State, 2008-2012
2008
2009
2010
2011
2012
Source:U.S.DepartmentofEnergy,EnergyInformationAdministrationNote:Top tenstates;shorttonequals2,000pounds
Coloradoranks9th withnearly29million shorttons
Fig.19
0.06%
0.10% 1.16%
0.79%0.76%
0.52% 0.25%0.28% 0.49%
0.32% 0.42%0.95%
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
MT IL WY WV KY PA OH CO TX NM ND IN
MillionShortTons
U.S. Coal Reserves & Utilization RatePercent equals utilization rate of state reserves; coal reserves are massive,
contributing to an extremely small utilization rate
Reserves2010
Reserves2011
2011Production
Source:U.S.DepartmentofEnergy,EnergyInformationAdministration;Note:Reserves are"EstimatedRecoverableReserves";shorttonequals2,000pounds;2011ismostrecentyearfordomesticcoalreservesdata
COranks8thinreserveswith9.58billionshorttons
andhasa0.28%utilizationrate
Fig.20
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
China U.S. India Australia Indonesia Russia SouthAfrica Germany Poland Kazakhstan
BillionShortTons
Global Coal Production Leaders, 2008-2012U.S. production holding steady as resource diversity expands; China coal
production is increasing rapidly to match growing demand
2008
2009
2010
2011
2012
Source:U.S.DepartmentofEnergy,EnergyInformation AdministrationSource:U.S.DepartmentofEnergy,EnergyInformation Administration
USranks 2ndwith1.02billion
shorttons
Fig.21
0
50
100
150
200
250
300
U.S. Russia China Australia India Germany Ukraine Kazakhstan SouthAfrica Colombia
BillionShortTons
Top Proved Coal Reserves, 2012The U.S. holds the largest coal reserves in the world
Source:BPStatisticalReview ofWorldEnergy, June2013Note:Shorttonequals2,000pounds;"recoverable"basedoncurrenteconomicsandtechnology;includesanthracite,bituminous,sub‐bituminous,andlignite
U.Sranks1st inprovedcoalreserves
262billionshorttons
Globalcoalproductionisapproximately
8.7billionshorttonsperyear
Fig.22
0
50
100
150
200
250
300
350
400
450
Indonesia Australia U.S. Russia Colombia SouthAfrica Kazakhstan Canada Vietnam
MillionShortTons
Top Net Exporters of Coal, 2008-2012U.S. exports are increasing to meet global demand
2008
2009
2010
2011
2012
Source:InternationalEnergyAgency,KeyWorldEnergyStatistics,2009‐2013
U.S. ranks3rdincoalexports
117millionshorttons
Fig.23
0
50
100
150
200
250
300
350
China Japan India SouthKorea Taiwan Germany U.K. Turkey Italy
MillionShortTons
Top Net Importers of Coal, 2008-2012The U.S. has no significant imports of coal
2008
2009
2010
2011
2012
Source:InternationalEnergyAgency,KeyWorldEnergyStatistics,2009‐2013 Fig.24
Renewables
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
TX CA IA IL OK OR WA MN KS CO
Megawatts
Total Installed Wind Capacity, 2008-2012Widespread growth in wind installations; Texas leading the way
2008
2009
2010
2011
2012
Source:SNLEnergy
COranks10th2,292MW
Fig.25
0
500
1,000
1,500
2,000
2,500
3,000
3,500
CA NJ AZ NV CO HI FL MA NC TX
Megawatts
Total Installed Solar Capacity, 2010-2012Significant growth in solar installations; California leading the way with large
utility scale solar farms
2010
2011
2012
COranks5th213MW
Source:SolarElectricPowerAssociationFig.26
0
200
400
600
800
1,000
1,200
1,400
CA FL ME VA GA AL MI PA LA TX CO
Megawatts
Total Installed Biomass Capacity, 2008-2012Colorado is below the national trend
2008
2009
2010
2011
2012
COranks37th20MW
Source:SNLEnergyNote:ToptenstatesplusColorado
Fig.27
0
500
1,000
1,500
2,000
2,500
CA NV UT HI OR ID AK WY CO
Megawatts
Total Installed Geothermal Capacity, 2008-2012Eight states have geothermal electric generation; California leads the way
2008
2009
2010
2011
2012
Source:SNLEnergyNote:Vastmajorityofstateshavenoutility‐scalegeothermalcapacity
Noutility‐scaleColoradogeothermal
generatingcapacity
Fig.28
0
500
1,000
1,500
2,000
2,500
CA NV UT HI OR ID AK WY CO
Megawatts
Total Installed Geothermal Capacity, 2008-2012Eight states have geothermal electric generation; California leads the way
2008
2009
2010
2011
2012
Source:SNLEnergyNote:Vastmajorityofstateshavenoutility‐scalegeothermalcapacity
Noutility‐scaleColoradogeothermal
generatingcapacity
0
5,000
10,000
15,000
20,000
25,000
WA CA OR NY VA SC GA AL AZ MT CO
Megawatts
Total Installed Hydropower Capacity, 2008-2012Minimal nationwide growth in hydropower capacity
2008
2009
2010
2011
2012
Source:SNLEnergyNote: ToptenstatesplusColorado
COranks19th1,219MW
Fig.29
CONFIDENTIAL NOT FOR DISTRIBUTION
State Clean Tech IndexRankingsbasedontechnology,policy,andcapitalactivities
ofeachstate
Fig.30ReprintedwithpermissionfromCleanEdge,Inc.2013U.S.CleanTechLeadershipIndex
CONFIDENTIAL NOT FOR DISTRIBUTION
Metro Clean Tech Index
Rankingsbasedonbuildingefficiency,transportation,cleanelectricity,
carbonmanagement,cleantechinvestment,innovation,andworkforce
ReprintedwithpermissionfromCleanEdge,Inc.2013U.S.CleanTechLeadershipIndexFig.31
Power
Map of Major Electric Transmission LinesEastern, Western, and Texas Interconnections are all unique; expansion
of renewables may require new transmission lines
Fig.32
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
%ofGeneration
Renewables
Hydro
Nuclear
NaturalGas
Oil
Coal
Source:U.SDepartmentofEnergy,EnergyInformationAdministration;some2012 dataisprovisional
U.S. Net Generation History by Resource, 1950-2012
Fig.33
0
20
40
60
80
100
120
140
160
CombinedCycle
Wind Hydro Geothermal CombustionTurbine
AdvancedNuclear
Biomass AdvancedCoal SolarPV
DollarsperMegawattHour
Levelized Costs for Electric Generation PlantsAssuming a plant start date of 2018, the total levelized cost measures
competitiveness of different generating technologies; levelized costs include transmission, fuel, operations and maintenance, and capital
TransmissionInvestment
VariableO&M(includingfuel)
FixedO&M
LevelizedCapitalCost
Source:U.S.DepartmentofEnergy,EnergyInformationAdministrationNote:2018isreferenced duetothelongleadtimerequiredforsometechnologiesandprojects;estimatesexpressedabovewillvarybyregion
Fig.34
0
10
20
30
40
50
60
70
80
90
100
Nuclear Coal Hydro Wind NaturalGas Oil
AverageCapacityFactor(%
) 2011
2012
Source:U.S.DepartmentofEnergy,EnergyInformationAdministration
Average U.S. Capacity Factor by Resource, 2011 & 2012The average capacity factor of a power plant is the ratio of actual output per year compared
to the output of operating at full nameplate capacity
Fig.35
Coal31%
Gas40%
Nuclear10%
Oil4%
Hydro9%
Renewables6%
U.S.OperatingNameplate Capacity1.04terawattsofinstalledcapacity
Source:U.S.DepartmentofEnergy;EnergyInformationAdministration,figures excludeidledpowerplants
U.S. Nameplate Capacity and Net Generation, 2012Available installed capacity compared to utilized capacity
Coal39%
Gas29%
Nuclear20%
Oil1%
Hydro6%
Renewables5%
U.S.NetGenerationbyResource3,874terawatthoursoftotalgeneration
Fig.36
NaturalGas36%
Coal40%
Hydro6%
Wind15%
Solar3%
Colorado Nameplate Capacity and Net Generation, 2012Available installed capacity compared to utilized capacity
ColoradoOperatingNameplateCapacity13.8gigawattsofinstalledcapacity
Source:U.S.DepartmentofEnergy;EnergyInformationAdministration;figuresexcludeidledpowerplantsNote:Electricityusebysector‐ Industrial(29%),Residential(34%),Commercial(37%)
NaturalGas19%
Coal68%
Hydro3% Wind
10%
Solar0%
ColoradoNetGenerationbyResource50,783gigawatt hoursoftotalgeneration
Fig.37
0
200
400
600
800
1000
1200
WY LA AK ND IA TX NE SD IN KY CO
MillionBtuperCapita
COranks34thwith289millionBtu
percapita
U.S.averageis315millionBtu
percapita
Source:U.S.DepartmentofEnergy,EnergyInformationAdministrationNote:ToptenstatesplusColorado
U.S. Per Capita Energy Consumption, 2011Colorado has a low energy (Btu) consumption rate per person
Fig.38
0
5
10
15
20
25
30
35
40
HI AK NY CT VT NJ NH CA MI ME CO
CentsperKilowattHour
2011
2012
2013
Source:U.S.Census;U.S. DepartmentofEnergy,EnergyInformationAdministrationNote:ToptenstatesplusColorado
COranks17thwith 12.81cents/KWh
U.S.2013average12.22cents/KWh
Average Residential Summer Retail Electric Price, 2011-13Colorado has the 17th most expensive residential retail electricity price
Fig.39
Environment & Sustainability
0
5
10
15
20
25
CO2Em
issionsperCapita(millionmetrictons)
CO2 Emissions Per Capita, 1960-2010 U.S.
World
China
E.U.
Russia
Source:WorldBank,CarbonDioxideInformationAnalysis Center,EnvironmentalSciencesDivision,OakRidgeNationalLaboratory
Chinaaccountedfor25%oftheworld'stotalCO2emissions
(8.3billionmetrictons)whiletheU.S.accountedfor16%(5.4billionmetrictons)
Fig.40
25%
16%
11%
6%5%
3%
2% 2% 2%1%
0
1
2
3
4
5
6
7
8
9
China U.S. EuropeanUnion
India Russia Japan Germany Iran SouthKorea Canada
CO₂Emissions(billionmetrictons)
CO₂ Emissions by Country: 2000, 2005, 2010Top ten countries account for 64% of world CO₂ emissions
2000
2005
2010
Source:WorldBank;CarbonDioxideInformationAnalysisCenter,EnvironmentalSciencesDivision,OakRidgeNationalLaboratory
In2010,Chinaaccountedfor25%oftheworld'stotalCO₂
emissions(8.3billionmetrictons),whiletheU.S.accountedfor16%
(5.4billionmetrictons)
PercentagesreflectshareoftotalglobalCO2emissionsin2010
Fig.41
TheACEEEscorecardbenchmarkisbasedonanassessmentofpoliciesandprogramsthatencourageenergyefficiency;includingbuildingcodes,transportation,stateinitiatives,andapplianceandequipmentstandards.
Fig.42
2.292.2
2.11 2.09
1.95 1.95
1.83 1.8 1.771.71
1.55
0.0
0.5
1.0
1.5
2.0
2.5
IL MD VA MA NY CA OR NC CO HI MN
LEED‐CertifiedSpaceperCapita(sq.ft.)
Square Footage of LEED-Certified Space, 2013 Colorado fell from second in 2012 to eigth in 2013 in the amount of
LEED-certified space per capita
Source:U.S.GreenBuildingCouncil‐ elevenstatesareshown,NYandCAtiedFig.43
Agriculture,86%
Municipal,8%Recreation&Fisheries,3%
Augmentation,1%
Recharge,1%
LargeIndustry,1%
ThermoelectricPowerGeneration,0.45%
Commercial,0.07%
HydraulicFracturing,0.04%
OtherEnergy*,0.03%
Snowmaking,0.03%
Industrial/Commercial1.5%
Colorado Water Consumption by Industry SectorAgriculture uses the majority of CO water; energy sector
consumes less than 1% of total
Source:ColoradoFoundationforWaterEducation;CODivisionofWaterResources*="OtherEnergy"issolar,coal,naturalgas,anduraniumdevelopment
Fig.44
Energy Policies & Programs
Energy Efficiency Policies, 2012Colorado requires electricity sales and demand to be reduced by 5% of 2006 numbers
by 2018; natural gas savings requirements vary by utility
.
www.dsireusa.org/February2013
20 states have Energy Efficiency
Resource Standards. (7 states have
goals).
Fig.45
Renewable Energy Policies, 2012Colorado has a Renewable Portfolio Standard (RPS) of 30% by 2020 for investor owned
utilities, 20% by 2020 for rural cooperatives, and 10% by 2020 for large munis
..
www.dsireusa.org/March2013.
29 states,+ Washington DC and 2
territories,have Renewable Portfolio
Standards(8 states and 2 territories have
renewable portfolio goals).
Fig.46
Net Metering Policies, 2012Colorado requires that a customer's excess generation during a
calendar year be reimbursed by their utility
.
www.dsireusa.org/July2013
43 states,+ Washington DC
& 4 territories,have adopted a net
metering policy.
Note:Numbersindicateindividualsystemcapacitylimitinkilowatts.Somelimitsvarybycustomertype,technologyand/orapplication.Otherlimitsmightalsoapply.Thismapgenerallydoesnotaddressstatutorychangesuntiladministrativeruleshavebeenadoptedtoimplementsuchchanges.
Fig.47
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
CA NY AZ TX UT OK NJ MA MD FL CO
Num
berofAlternativeFuelVehicles
Alternative Fuel Vehicles, 2011Recent state policies may begin increasing the number of
alternative fuel vehicles in Colorado
Source:U.S.DepartmentofEnergy;EnergyInformationAdministrationNote:Includescompressednaturalgas(CNG),liquefiednaturalgas(LNG),hydrogen,andelectricvehicles;alltypes,classes,anduses;ToptenstatesplusColorado
Coloradoranks23rdintotalnumberofalternativefuelvehicles(1,330vehicles)
Fig.48
0
1,000
2,000
3,000
4,000
5,000
6,000
CA TX WA FL OR TN NY MI AZ MA CO
Num
berofAlternativeFuelVehicleStations
Alternative Fuel Vehicle Stations, 2013
Electric
Hydrogen
LNG
CNG
Source:DepartmentofEnergy;AlternativeFuelsDataCenterNote:Includescompressednaturalgas(CNG),liquefiednaturalgas(LNG),hydrogen,andelectric;ToptenstatesplusColorado
COranks18thintotalnumberof
alternative vehiclefuelingstations(307stations)
Fig.49
0
10
20
30
40
50
60
NY CA HI CT IL MI IN NC WA FL CO
CentsperGallon
State Gasoline Tax, 2013Colorado ranks 33rd in the nation; well below the national average
Source:AmericanPetroleumInstituteNote:ToptenstatesplusColorado
Colorado22.0CentsperGallon
National Average27.2CentsperGallon
Fig.50
$0.00
$2.00
$4.00
$6.00
$8.00
$10.00
$12.00
Turkey Italy Belgium Germany U.K. SouthKorea
Chile Japan Australia Canada U.S. Mexico
U.S.DollarperGallon
Global Retail Prices of Premium Unleaded, 2013U.S. gasoline is inexpensive compared to most countries; limited resources,
limited infrastructure, and fuel taxes contribute to higher prices
Source:InternationalEnergyAgency,2013KeyWorldEnergyStatisticsNote:Gasoline pricesarefrom1stquarterof2013
U.S.2013firstquarterretailprice$3.72
Fig.51
COranks4thinnumberofacresleased
4,198,209acres
0
2
4
6
8
10
12
14
16
WY NM UT CO NV MO AK ND AR MS
MillionAcres
Number of Acres Leased for Drilling Public LandsColorado has 4th highest number of acres leased; increased oil and gas activity
on private lands contributes to decrease
2008
2009
2010
2011
2012
Source:BureauofLandManagement,PublicLandsStatisticsNote:ToptenstatesincludingColorado
Fig.52
Employment & Industry
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
U.S.Employment
ColoradoEmployment
Fossil Fuels - Number of EmployeesColorado fossil fuel sector is growing; 45,225 direct employees in 2013
Colorado
UnitedStates
Source:Dun &Bradstreet,Inc.;Marketplacedatabase,July‐September,2007‐2010;MarketAnalysisProfile,2011‐2013Note:Employmentrepresentsthecoal,oil,gas,pipeline,refinery,generation,transmission,distribution,andengineeringservices sectors
Fig.53
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
0
5,000
10,000
15,000
20,000
25,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
U.S.Employment
ColoradoEmployment
Cleantech - Number of EmployeesColorado cleantech sector is growing; 22,424 direct employees in 2013
Colorado
UnitedStates
Source:Dun &Bradstreet,Inc.;Marketplacedatabase,July‐September,2007‐2010;MarketAnalysisProfile,2011‐2013Note:Employmentrepresentsthesolar,wind,geothermal,fuelcell,efficiency,storage,greentransportation,cleantechR&D,andenvironmentalconsultingsectors
Fig.54
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
2010 2011 2012
AverageAnnualSalary
Average Annual SalaryFossil fuel wages tend to be higher than cleantech wages;
Colorado wages higher than national average
FossilFuels‐U.S.
FossilFuels‐CO
Cleantech‐U.S.
Cleantech‐CO
Source:2013MetroDenverEDCEnergyClusterStudyFig.55
78%
22%
Economic Impact, 2013The economic impact of Colorado's energy industry is $15.5 billion; that is a
13.6% increase over 2012, which was $13.7 billion
FossilFuels
Cleantech
22,420directcleantechworkerssupportanadditional55,470indirectworkers; earning$3.4billionannually
45,230directfossilfuelsworkerssupportanadditional115,580indirectworkers;earning$12.2billionannually
67,650directenergyworkerssupportanadditional171,050indirectworkers,foratotalof238,700energyindustryemployeesstatewide
Source:2013MetroDenverEDCEnergyClusterStudyFig.56
0
5
10
15
20
25
30
BillionsofDollars
TheEnergy&NaturalResourcesportionofColorado'sGRPwas$21Billion in2012
Source:ColoradoOfficeofEconomicDevelopmentandInternationalTrade(OEDIT),EconomicModelingSpecialistsInternational(EMSI)
Colorado Key Industries, 2012The energy and natural resources key industry represents 8% of the state's Gross State
Product (GSP); GSP is the market value of all final goods and services produced in the state
Colorado's2012GRPwas$265 billion
Fig.57
Resource Rich Colorado
Fifth Edition
December 2013
REMI
• Regional Economic Models Inc. (REMI)o Dynamic economic modeling system
• Partners:o Common Sense Policy Roundtable o Denver South Economic Development Partnershipo Metro Denver Economic Development Corporation
• REMI Tax‐PI model built for Coloradoo Economists: CU Leeds School of Business
REMI – 2014 Fracking Ban Report• Colorado Oil and Gas
o 75% of Colorado homes are fueled by natural gas produced in the state
o 30% of Colorado’s transportation fuel comes from the state’s oil production
o More than 60 years of hydraulic fracturing in Colorado, with approximately 95% of Colorado wells being “fracked” today
• Study Results – Fracking Ban: 2015‐2040o 93,000 lost jobs – permanent losso $12 billion in lost State GDP o Reduction of $985 million in local and state tax revenue
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