Last night, House Democrats voted a bill out of committee that, if it passes, will set a new standard for liability with oil and gas companies. The basic premise is that oil and gas companies could be liable for damages resulting from earthquakes near drilling sites. As we pointed out yesterday, the science on this is shaky at best.
While the bill is ill-advised and it will run into a conservative Trump Wall of Mexico in the Senate, the worst part of the bill perhaps is its timing. Approximately seven hours before Democrats, including bill sponsor Joe Salazar, voted to hinder the oil and gas industry, two large Colorado players, Anadarko and Encana announced drastic workforce cuts due to low oil prices – 17 percent and 20 percent, respectively. And WPX yesterday also notified officials that the company was considering layoffs.
And, yet, the Democrats above voted to hurt the industry anyway. From the Denver Post article:
“These are our co-workers and friends, and this has been a difficult day for everyone,” Olsen said. “The staff reductions are necessary as we work to navigate a difficult market environment, and adjust our workforce, given our lower capital program and reduced activity levels.”
Next time Democrats say that they are for the middle class – the same middle class whose jobs are threatened by the regulation that Democrats hope to enact – call their bullsh!t.