Colorado Democrats Pass Bill To Crack Down On A Pillar Of State?s Economy ? Oil And Gas Drilling

[GeorgeandSugar]

SB 181 opponents said it closely resembled 2018?s failed ballot initiative pushed by environmentalists and some Democrats that would have effectively banned hydraulic fracturing in most of Colorado. Voters rejected the measure in November.

Colorado is the fifth-largest oil producing state and sixth-largest in terms of natural gas production, according to U.S. Energy Department data. The state?s energy boom has been fueled by hydraulic fracturing.

Oil and gas contributes $32 billion to Colorado?s economy every year and supports 89,000 jobs, according to industry figures. The industry says it paid $1 billion in state and local taxes in 2017, which support schools, parks and infrastructure.

I can see the CO economy slipping along with reduced revenues which means either a reduction in the budget outlays or higher taxes. Biting the hand that feeds you. Pathetic!

https://wattsupwiththat.com/2019/04/...-gas-drilling/


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[Eric P]

I hope all revenue from the industry ceases. Fvck the politicians, make this hurt deeply.

[Great-Kazoo]

Easiest fix for all the issues D's are doing. a FOR SALE sign on your property

[avandelay]

It is gonna hurt.

https://oilprice.com/Energy/Energy-General/Is-This-The-End-Of-Colorados-Shale-Boom.html

Wall Street has grown more skeptical of the shale industry in general, but Colorado-focused drillers have been particularly hit. ?Many investors have simply exited Colorado stock positions altogether, believing that the downside risk is unquantifiable and not worth bearing,? said Ethan Bellamy, a senior analyst at Baird, according to the Colorado Sun. ?Until we see true policy stability, Colorado oil and gas stocks likely stay in the penalty box for long-term investors.?

[beast556]

Easiest fix for all the issues D's are doing. a FOR SALE sign on your property

The negatives are starting to out weigh the positives at a rapid pace here in CO.

[Great-Kazoo]

The negatives are starting to out weigh the positives at a rapid pace here in CO.

You have a place to camp out while looking around the area. Prescott Valley, Dewey & Humboldt have good schools, geared towards all student types.

[Ah Pook]

Luckily, all my oil/gas royalties are in TX.

[Justin]

Georgia is starting to look good.

[Grant H.]

Wyoming or the Deep South is about all that's left...

[GeorgeandSugar]

As the Great-Kazoo knows, our days are numbered in CO, unless there is a turnaround in the political landscape. AZ is in our future. I give us about 2-3 more years.


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