A major oil and gas company in Colorado is cutting its workforce by one-third, according to media reports that claim it has nothing whatsoever to do with Senate Bill 181 passed by Democrats this year.
However, when we read the announcement by Whiting Petroleum Corp., and see in the very first sentence they need to realign with the “current operating environment and drive long term value,” we envision the words “burdensome regulations” flashing faintly on a poorly lit solar sign.
In case anyone missed that subtle hint, the company further lists future risks and uncertainties that include “federal and state initiatives relating to the regulation of hydraulic fracturing and air emissions.”
We’re not saying media reports blaming the cuts on oil and gas prices aren’t true — extended periods of lower prices are also to blame.
We just thought it necessary to clarify that excessive government interference, including the oil and gas regulatory stunt pulled by Gov. Polis and Democrats in the state legislature with passage of 181, is also to blame.
Colorado Politics reports the 254 jobs losses will include 94 positions in Denver.