At Upstream Petroleum, we’re proud to use our resources to invest in the safety, health, and well-being of every citizen of Colorado. That’s just one of the reasons that we regularly contribute to charities near and dear to our hearts. Take, for instance, our recent contribution to the Denver Rescue Mission.
For more than a century, the Denver Rescue Mission has offered the city’s homeless citizens an opportunity to get back on their feet through education, support, and spiritual counseling. A cause so noble deserves as much help as it can get, which is why Upstream was thrilled to purchase 3,000 meals for the homeless souls who pass through the program.
Our donation isn’t unique, however. Not to us, or to the industry at large.
The Tax Game
When it comes to the oil and gas industry, a lot of attention is paid (understandably) to the tax payments reaped from the sector each year. For good reason, of course. Year after year, the oil and gas industry contributes roughly a billion dollars in state and local taxes. That’s for Colorado alone.
What’s more, that billion-dollar price tag doesn’t take into account the taxes paid by the nearly 90,000 people employed by Colorado’s oil and gas industry.
Serving the Community
Even though the oil and gas industry is taxed much more strictly than residential or commercial entities, the oil and gas industry and its employees still routinely go above and beyond for their community. According to a report from the Colorado Oil and Gas Association (COGA), Colorado’s energy industry supported more than 700 charitable organizations focused on everything from mentoring Colorado’s youth to improving the state’s culture to improving the environment every Coloradan treasures.
When the dust settled, 62 of COGA’s member companies donated over $17.5 million. That averages out to more than a quarter of a million dollars per member company.
The oil and gas industry is also relatively unique among industries in cultivating a culture that supports hands-on involvement. In addition to the monetary investment in the community, oil and gas employees average more than 70,000 man-hours of community service annually.
This is only possible because prominent players in the oil and gas industry offer several employer-based incentives (like paid time off) to employees who feel the spirit of giving.
Agape in Action
As the year plods on, the people of Colorado can count on the men and women of the oil and gas industry to continue working to improve the lives of everyone throughout the state, whether that means giving back to the community or providing safe energy to our friends and neighbors.
After all, we’re all in this together.