Proposition #112 tells private property owners what they can and cannot do with their own land. This initiative is so extreme that it increases setbacks to five times the distance of what is currently required, which effectively bans oil and natural gas development in the state, costing tens of thousands of jobs and hundreds of millions in tax revenue.
(Formerly known as initiative 97)
Prop #112 takes away more than $1 billion dollars annually in revenues from communities that are critical to state and local governments, schools and special districts. In fact, oil and natural gas contributed $839 million to K-12 schools in 2015 and 2016, and over the past eight years, the industry sent $615 million in severance tax to municipalities and counties for everything from new parks and recreational centers to funding public safety of local police and fire departments and road improvements.
According to a study released by the Common Sense Policy Roundtable (CSPR) and the REMI partnership, Prop #112 would eliminate over $26 billion annually in state GDP, more than $1 billion in tax revenue, and as many as 147,800 jobs by 2030. This latest study reinforces a recent analysis conducted by the Colorado Oil and Gas Conservation Committee showing that the setback measure would put 85% of the state off limits to new oil and natural gas development. Learn more about the study: commonsensepolicyroundtable.org/oil-gas-setback-study
What are Colorado’s Current Regulations?
Over the last seven years, Colorado has continuously improved the state’s oil and natural gas regulations so that they are some of the strictest regulations in the nation.
Colorado’s tough regulations require companies to work with local governments when planning oil and natural gas development and effectively protect the environment and the health and safety of all Coloradans. If Coloradans can’t responsibly access oil and natural gas on state land, they may be forced to rely on federal lands to meet their energy needs, further opening the door to development on some of the state’s most pristine public lands.
Maintaining responsible and reliable production of oil and natural gas right here at home means we rely less on unstable, hostile foreign regimes. A 2,500-foot setback would not only severely limit Colorado’s energy production, it will make our energy security harder to achieve.
Click here to learn more about the impacts of a 2,500-foot setback.
Before you cast your vote this November, make sure to share the facts with your family and friends.
To read the original publication on the Protect Colorado site, Protect Colorado explains this initiative 97 and more.
To learn MORE about this important issue- Click on the article below.
Above all, be prepared to talk about Proposition #112 with others. Share the facts that you learn!
Read more on the Coloradans for Responsible Energy Development website.
Additional information, for your convenience~
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