As the nation’s second largest supplier of energy resources, including coal, gas, oil, and uranium, Wyoming might seem to be sitting pretty in terms of the economy. But, the state’s energy resource producers know that supply, demand, production, and other forces around the world can suddenly change everything. They can’t rest on their laurels.
According to an article about the 2014 forecast regarding Wyoming’s energy production, “Many companies are moving to diversify their portfolios. Encana Corp., the largest natural gas producer in Wyoming, is shifting its focus in 2014 toward oil. The shift comes in response to low natural gas prices and the glut of supply, said Doug Hock, a company spokesman.” http://ow.ly/XyB5w
While uranium production has been soft the past few years, it’s gearing up for a rebound due to Japan’s potential restart of nuclear plants. According to Thomas Drolet, chief of Drolet & Associates Energy Services, “Ur-Energy has ramped up production to about 600,000 pounds (600,000 lbs) this year at its Lost Creek operation in Wyoming.” http://ow.ly/XyB1b
This flexibility among Wyoming’s coal, gas, oil, and uranium companies leads to more stability in the industry and in the economy.
For a recent analysis of the state’s energy industry, see “Fueling Change” in the Buffalo Bulletin: http://www.buffalobulletin.com/news/article_84a01ecc-8396-11e3-a083-001a4bcf6878.html.