Abstract
Wyoming’s economy and state & local government budgets depend heavily on the state’s mineral wealth. Mineral related payments are roughly 65% of Wyoming State revenues, with severance taxes and royalties alone accounting for 51% of the State budget. The recent strength of oil prices relative to other minerals has brought the importance of Wyoming’s CO2 enhanced oil recovery industry to the forefront, with state oil production trending higher after decades of decline. Collectively, the WY oil units with active CO2 floods produced 23.35 million barrels of oil from 2010-2012, 14% of Wyoming crude production during that time, of which 20.43 million or 12.2% of production is attributable to the CO2 injection. Utilizing the regional input-output (IO) economic model, IMPLAN, we estimate that from 2010-2012 the CO2-EOR projects in Wyoming supported an average of 1,914 jobs annually. Ignoring the capital investments and thinking in terms of ongoing oil production, 188 jobs were supported for every 1 million barrels of incremental oil produced.
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