Gordon Approves Using CARES Act Money To Boost Energy Industry
The governor says the move will put Wyoming oil and gas workers back to work and help the state's overall economy recover. Under the Energy Rebound Program, up to $15 million in CARES money will be used to help re-start work on drilled but uncompleted oil and gas wells. as well as plugging and abandonment projects which could not be finished due to the pandemic.
In a news release, the governor said “These funds will have a direct impact on Wyoming’s employment rate and put people back to work in our oil and gas sector which was impacted by COVID-19. It will provide opportunities for employees who lost jobs when drilling ceased,” Governor Mark Gordon said. “The oil and gas industry is a huge contributor to Wyoming revenues, employment, and its overall economy. These dollars will assist in our state’s economic rebound.”
The release went on to say:
''The use of the funds will provide a stimulus to the economic recovery. Funds would be used to commence operations that would include the hiring of crews, many of whom would stay at hotels near the project, water acquisition, ordering of supplies and equipment for drilling and re-completions, and plugging and abandonment activities. ''
Wyoming is the 8th largest oil and gas producing state in the nation, and the minerals extraction industry (including oil and gas) is by far the dominant sector of the state economy.