Nearly three years after the start of the pandemic, Greeley is the only one of Colorado’s metro areas whose economy hasn’t fully recovered and the reason might be the same one for its previous robust growth — the oil and gas industry.reaching 117% of pre-pandemic levels in September and surpassing the U.S. recovery rate of 102%. But Greeley and the rest of Weld County has recovered just 57% of their pre-pandemic job levels.
“Just prior to the pandemic, Weld County was really booming with oil and gas development,” said Don Warden, the county’s director of finance and administration. “They basically pretty much dropped to almost nothing there in the pandemic.” There were nearly 8,000 mining jobs, mostly oil and gas jobs, in Weld County in the first quarter of 2020, according to the U.S. Bureau of Labor Statistics. The total was 4,649 in the first quarter of 2021 and 4,984 the first quarter of 2022.
“That’s the problem with such a high percentage of our property tax being associated with oil and gas is the volatility of the swings, not so much from production but the price,” Warden said. “We’re sort of hyperfocused on where they were during their high time, their peak, which was showing the energy boom,” Lewandowski said.
The feeling was that figuring out the various programs and getting the money “might be a ways down the road,” Henning added. The chamber headed a grassroots effort that raised $650,000 and later matched state and local funds to keep small businesses open. General manager Joey Martinez said a committed customer base pulled Homewood Suites by Hilton through the downturn. Oil and gas workers and business travelers make up a significant portion of the Greeley hotel’s clientele.
Nothing to do with COVID. But please don’t stop the propaganda
Before our government enforced a lockdown that ruined lives
Gov restrictions aren’t the reason these oil/gas companies aren’t producing, it’s their responsibility to their shareholders to reduce capital expenditures. Meanwhile a company like Liberty Energy (Weld Co) shows record earnings
'Factors range from global economic forces to the industry’s current business model to new state regulations.' Global economic forces favor production (⬆️prices) and 'business model' is BS w/⬆️ prices. It's all PolisForCO killing the industry w/regulations. Vote heidiganahl
the oil companies stopped themselves
'Energy was a boon for Weld County before the pandemic.' By pandemic, means Polis policies. Vote Heidi! heidiganahl
Vote Republican and let's move forward again.
Dont excuse Biden, Polis, Bennet and Hickenlooper from this debacle. We should be drilling and mining again
Not COVID, rather federal regulations
Oil corporations are not sharing the wealth. Tax the heck out of them and pay the workers.
Thanks to Jarod and Joe
By design by your current administration.
And they will be voting R on Tuesday.
The usual whine from an industry that is raking in massive profits.
Thanks POTUS, SecGranholm, EPA, and GovofCO!