American Petroleum Institute issued the following announcement on Nov. 6.
The Colorado Petroleum Council tonight expressed gratitude to voters across the state for voting to defeat Proposition 112, the natural gas and oil setbacks measure which would have effectively banned new production in Colorado, costing nearly 150,000 jobs and billions of dollars in public revenue.
“This is a great night for our state,” said Colorado Petroleum Council Executive Director Tracee Bentley. “Colorado plays a leading role in America’s energy revolution, and our state has spoken loud and clear that we recognize the importance of the industry to the state’s economic well-being.
“Proposition 112 would have hurt more than just the natural gas and oil industry, as seventy-seven percent of the 43,000 jobs it would have eliminated in year one would have come from outside the energy sector. Colorado’s businesses, both small and large, are increasingly co-dependent: hurt one, and you hurt all. It is heartening to see voters from across the state stand up in defense of the dignity of their friends’, families’ and neighbors’ work.
“We now turn to a new year, in which we will continue substantive, serious dialogue with our colleagues on the other side of this debate. There will always be a seat at the table for anyone who seeks to keep Colorado the envy of the nation, and we are proud to be a part of it.”
The Colorado Petroleum Council is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 600 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 47 million Americans.
Original source can be found here.
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