Colorado Petroleum Council: Senate decision affirms science and common sense in safe, responsible energy development
DENVER, April 12, 2017 – Colorado Petroleum Council Executive Director Tracee Bentley welcomed the state Senate Agriculture, Natural Resources and Energy Committee’s support for the existing setback regulations established just four years ago by the Colorado Oil and Gas Conservation Commission (COGCC). The decision to reject HB17-1256 affirms the authority of the Colorado Department of Public Health and Environment (CDPHE) and the COGCC to ensure that protection of human health and the environment is paramount and balanced responsibly with the safe development of the state’s oil and natural gas resources.
“For Colorado residents, balancing environmental protection with economic security is part of our proven tradition of responsible leadership. Colorado has a well-established stakeholder process that has helped make our state the seventh largest producer of oil and natural gas in the country. School districts in Colorado received nearly $202 million from oil and natural gas production in the form of property taxes in 2012 alone, and the oil and natural gas industry supports several hundred thousand jobs across the state.
“By upsetting that balance, the proposed legislation could harm consumers, cost local jobs, deprive state and local governments of much-needed tax revenues, and limit access to critical energy resources.
“Colorado’s oil and natural gas industry will continue to work with the state regulators and all stakeholders to foster the responsible development of our energy resources in a manner consistent with protection of the environment, public health and safety.”
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 also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.