Wyoming Economy

 

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In 2002, over six million people visited Wyoming’s national parks and monuments. The key tourist attractions in Wyoming include Yellowstone National Park, Devil’s Tower National Monument, Grand Teton National Park and Fossil Butte National Monument.

Historically, agriculture has been an important component of the state of Wyoming’s economy. Its overall importance to the performance of the state’s economy has waned. However, it is still an essential part of the state’s culture and lifestyle. The main agricultural commodities produced are hay, sugar beets, livestock (beef), grain (wheat and barley), and wool.

Wyoming’s mineral commodities include coal, crude oil, uranium, natural gas, coal bed methane and trona.

The state is the number one producer of coal in the United States. There is a reserve of 68.7 billion tons of coal. Major coal areas include the Powder River Basin and the Green River Basin. In 2004, natural gas production was 1,929 billion cubic feet. The state ranks fifth nationwide for natural gas production.

The boom for Coal Bed Methane (CBM) began in the mid-1990s. CBM is characterized as methane gas that is extracted from the state’s coal bed seams. It is another means of natural gas production.

Wyoming is ranked seventh among producers of oil in the United States. Petroleum is most often used as a motor fuel, but it is also utilized in the manufacture of plastics, paints, and synthetic rubber. 

Wyoming possesses the largest known reserve of trona in the world. Trona is used for manufacturing glass, baking soda, water softeners, paper, soaps and pharmaceuticals.

Although Uranium mining in the state is much less active than it was in previous decades, recent increases in the price of uranium have generated new interest in uranium prospecting and mining.

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