CPC applauds Senate actions supporting affordable, reliable energy future for Colorado families

DENVER, February 1, 2018 – The Colorado Petroleum Council issued the following statement regarding two votes (SB 63 and SB 64) by the Senate Agriculture, Natural Resources and Energy committee completed today that signaled support for responsible energy development to the benefit of the state economy, workforce and consumers and terminated proposals that could halt all oil and natural gas development in the state.

“Today the Senate continued its commitment to Colorado families and the state to emphasize the need for smart energy and economic policy by voting down Senate Bills 63 and 64,” said Colorado Petroleum Council Executive Director Tracee Bentley. “The Colorado Oil and Gas Conservation Commission already requires financial assurance and outlines reclamation requirements in current law and industry supports those statutes. Rejecting the costly proposals to duplicate these regulations allows for continued investments and greater economic activity. Economic certainty helps to drive technology innovations that protect the environment and help provide affordable energy for consumers.

“Colorado’s natural gas and oil companies support thousands of jobs throughout the state and are committed to safely developing the energy Americans use every day while also protecting the environment. Natural gas is also the essential partner to intermittent renewable energy sources, providing reliable fuel for power generation when the other power sources are unavailable. At the same time, natural gas goes into the production of wind turbine blades and photovoltaic cells – meaning that as more renewable power generation comes online, natural gas’ role will grow, too.”

The Colorado Petroleum Council is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation’s energy. The industry supports 10.3 million U.S. jobs and is backed by a growing grassroots movement of more than 40 million Americans.