Natural Resources Director Bob Randall is contemplating whether there continues to be a groundswell of support to pass two ballot measures that seek to put the oil and gas industry out of business in Colorado, the Durango Herald reports.
Randall notes that “some of the impetus behind the initiative a couple of years ago just doesn’t exist today,” while opponents of heat and electricity argue that the impact would be minimal because energy production is declining in the state.
Not surprisingly, Pete Maysmith at Conservation Colorado endorsed ballot initiative number 75, a backdoor maneuver to give environmentalists more power over the industry on the local level.
Fractivists are arguing that since they’ve already crippled the business through federal regulations that are driving the market, let’s just go ahead and turn off all the lights and lock the door on the energy industry.
Who would notice, right?
Interestingly, a study by the University of Colorado’s Leeds School of Business shows that the impact of one of those initiatives would actually “cost Colorado billions in its gross domestic product and over 100,000 jobs over the next five to 14 years,” the Herald said.
Passing either of the ballot efforts would have a ripple effect throughout the state, not just in our economy and loss of jobs, but it would hit everyone’s wallet, especially the poorest among us. The industry supports $25.8 billion of the Colorado economy, which is nine percent of the state’s total economic activity.
That’s why the measures are losing support. It’s the economy, stupid.