If Colorado is the nation's fourth largest oil producing state, why is the price of gasoline so high?

Since the U.S. and Israel attacked Iran more than two weeks ago, the Middle Eastern country has choked off shipping through the Strait of Hormuz, a consequential waterway which connects the Persian Gulf to the Gulf of Oman and through which one-fifth of the world's traded oil flows.

But if the United States is the world's top oil producer and Colorado is the nation's fourth largest oil producing state, why are gasoline prices increasing so rapidly here?

Denver7 anchor Shannon Ogden got some answers for you by speaking with Michael Orlando, the executive director of the J.P. Morgan Center for Commodities & Energy Management at the University of Colorado Denver.

Watch the conversation in the video player below:

► Q & A with Michael Orlando part 1 | Why does US production not lower domestic prices?

► Q & A with Michael Orlando part 2 | How is Colorado oil sold globally?

► Q & A with Michael Orlando part 3 | How does global supply impact local production?

► Q & A with Michael Orlando part 4 | How long to initiate new oil drilling?

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Denver7 | Your Voice: Get in touch with Shannon Ogden

Denver7 evening anchor Shannon Ogden reports on issues impacting all of Colorado’s communities, but specializes in covering local government and politics. If you’d like to get in touch with Shannon, fill out the form below to send him an email.

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