State economy outperforming nation, but held back by oil, gas prices

LOVELAND – The prevalence of the oil and gas industry in the state will keep the Colorado economy from rebounding more quickly or even in line with the rest of the nation, according to an economist with the Federal Reserve.

Mark Snead, assistant vice president in the Denver branch of the Federal Reserve Bank of Kansas City, addressed the Colorado State University Everitt Real Estate Center’s Real Estate Rendezvous Thursday morning.

“Never underestimate the role of oil and gas in this state,” he said.

Snead explained that Colorado is a “tier two” energy state, so when energy prices took a nosedive it…