Initiative 97 will be up for a statewide vote in November. If it passes, it will be terrible news for Colorado and bad news for oil consumers because it will have an impact on U.S. oil & gas supply. The DJ Basin in NE Colorado is one of the seven top producing regions in the U.S.
Denver Post: Don’t outlaw Colorado’s energy industry.
“You’re not welcome here.” That’s the message that cities, towns, and counties across Colorado are sending to oil and natural gas companies. In response to this hostility, many oil and natural gas producers are considering leaving Colorado and taking their business to friendly, energy-rich locales like Wyoming, North Dakota, and Texas. These defections are terrible news for Coloradans. Energy producers are creating jobs and investing in communities across the state. The industry has helped bring unprecedented levels of funding to Colorado transportation and roads, K-12 education, opioid epidemic treatment programs, rural broadband access, and the state’s teetering pension program.
Complete Colorado: Initiative 97 would destroy Colorado’s oil and gas industry.
If Initiative 97 does make it onto the ballot, there’s an important fact that should be at the forefront of the debate: Colorado already has some of the toughest oil and natural gas regulations in the country. Time and again, legislation in this energy-rich state has made sure that we are strictly regulating how and where oil and natural gas are discovered, extracted and transported. Common Sense Policy Roundtable also analyzed the economic impacts and likewise predicts the end for oil and gas, and a “devastating” impact on the state economy. Colorado is one of the top 10 producers in the nation of both oil and natural gas, and employs more than 200,000 hard-working men and women across the state. Should this initiative pass, the majority of those people will likely lose their jobs.
Colorado
Re: Colorado
PDCE and SRCI are the two companies that I follow which have the most exposure in the DJ Basin.
IMO Initiative 97 has "slim and no" chance of passing, but it will hang out there until after the November voting is done, unless it is somehow taken off the ballet.
IMO Initiative 97 has "slim and no" chance of passing, but it will hang out there until after the November voting is done, unless it is somehow taken off the ballet.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Colorado
https://www.bizjournals.com/denver/news ... yptr=yahoo
The Colorado Secretary of State still must verify that at least 98,492 of the signatures Colorado Rising gathered are from active registered Colorado voters for Initiative 97 to qualify for the statewide ballot.
The initiative would change state law to require 2,500-foot buffers between newly drilled wells and homes, schools, playgrounds and “vulnerable” areas.
Colorado’s oil and gas industry says the setbacks — greater than the current 500-foot setback from homes and 1,000 feet from school buildings — would cripple an industry that contributes $31 billion to the state economy, risking the loss of more than 100,000 jobs.
The Colorado Secretary of State still must verify that at least 98,492 of the signatures Colorado Rising gathered are from active registered Colorado voters for Initiative 97 to qualify for the statewide ballot.
The initiative would change state law to require 2,500-foot buffers between newly drilled wells and homes, schools, playgrounds and “vulnerable” areas.
Colorado’s oil and gas industry says the setbacks — greater than the current 500-foot setback from homes and 1,000 feet from school buildings — would cripple an industry that contributes $31 billion to the state economy, risking the loss of more than 100,000 jobs.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group