Wyoming’s economy has historically thrived alongside its robust and dynamic natural resource sectors. As chambers of commerce representing communities across the state, we recognize and honor the foundational role our traditional energy industries hold — now and for many years to come. As strong supporters of coal, oil and gas, we also acknowledge the vital need for businesses and entrepreneurs in our towns to embrace innovation. We believe Wyoming can do all of the above.

In order to maintain Wyoming’s prime position as an energy producer, we strongly encourage our leaders and the people of our state to continue in its entrepreneurial mindset. This focus, rooted in innovation, simultaneously fosters stability within our industries and the overall economy. This dual approach will enable our communities to continue capitalizing on the abundant energy opportunities our state offers, ensuring a prosperous future for generations to come.

It is vital to balance our state’s strong legacy of fossil fuel production with the need to grow our all-of-the-above energy strategy in order to protect jobs, businesses, and industries that contribute to a strong state economy. According to the U.S. Energy Information Administration, in the last three years, the state’s coal output declined by about one-third from 2015 to 2022. We know well that this is due to years of heavy regulation at the federal level. While state lawmakers may not be able to control misguided policies coming out of Washington, D.C., we can make sure Wyoming continues to pursue cutting-edge solutions that enable us to foster a bright future for our traditional energy resources, maintaining their vitality in our energy mix and economy. 

To continue our status as the energy state, while ensuring our nation has a stable energy supply, requires Wyoming to harness its considerable coal, oil and gas, nuclear, hydrogen, wind and other resources. For his part, Gov. Mark Gordon has done precisely that since the beginning of his administration. He has pushed back on the Biden administration’s heavy-handed approach to developing renewable energy, while supporting critical technologies like carbon capture and storage, which help reduce emissions to ensure Wyoming’s core fossil fuel industries remain viable and an important part of our state’s energy and economic independence.  

One of the most important things our state’s businesses and industries need is stability — and that means keeping pace with ever-evolving global energy policy and markets. That is what makes it so critical to grow our current energy capabilities to include renewable energies. For example, leveraging our nuclear production capabilities will possibly have an additional positive impact for Wyoming’s uranium industry. Given Wyoming has the largest known uranium ore reserves in the country, its potential as a major economic generator is promising. These opportunities will not only benefit job creation, support local businesses, and boost economic development efforts, but also will reduce our nation’s reliance on foreign countries like Russia and China. 

Growing our energy capabilities also adds much-needed diversity to Wyoming’s economy. Corporations and businesses across the country are looking for ways to reduce their carbon footprint. That includes many of the largest oil and gas companies in the world, the U.S. — and companies in our state. Investing in innovative carbon management technologies and programs will help Wyoming attract and retain new businesses and industries, building stronger, more sustainable economies in communities across Wyoming. As we continue to grow our all-of-the-above energy portfolio, we need to find a way to reverse coal production decline to protect Wyoming jobs and businesses. Supporting, advancing, and investing in emerging carbon capture and sequestration technologies can help us do that. 

Wyoming is blessed with some of the best, most generous energy resources in the world. From a purely economic and business standpoint, we should take advantage of the full range of these energy assets to help support stronger, more economically vibrant communities.

(The Wyoming State Chamber represents 33 Chambers of Commerce throughout Wyoming and actively advocates for policies that support a healthy business environment throughout the state.)