The Colorado Petroleum Council (CPC), an American Petroleum Institute branch, recently criticized the proposed Initiative No. 78, which would restrict where oil and natural gas development can take place, after the Colorado Oil and Gas Conservation Commission (COGCC) released maps showing how little land would remain for energy development if the initiative became law.
“The COGCC maps prove this setback proposal is short-sighted and reckless,” CPC Executive Director Tracee Bentley said. “Robust regulations exist in the state for oil and natural gas development and to ensure environmental protection.”
The initiative would create larger setbacks for oil and natural gas developments, which must currently be placed at least 500 feet from homes and buildings. If Initiative No. 78 passes, that figure would increase to 2,500 feet. This would significantly reduce the area available to the industry, which, according to the Colorado Petroleum Council, injected $1 billion into the state’s economy through production royalties.
“Proposals like this seek to disregard the well-thought-out stakeholder process that Colorado is known for,” Bentley said. “Colorado’s governor and COGCC regulators have worked hard to create a robust, frequently updated regulatory system – with enhanced opportunity for local participation – to ensure the environment and communities are well-protected. Interfering with this effective system would undermine a crucial source of income for both the state GDP (gross domestic product) and individual families.”
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