Proposition 112 is backed by extreme out-of-state groups and increases energy setbacks to five times the distance of what is currently required, which effectively bans oil and natural gas development in Colorado, costing tens of thousands of jobs, hundreds of millions in tax revenue, and devastating large segments of our economy.
According to a study released by the Common Sense Policy Roundtable (CSPR) and the REMI partnership, Proposition 112 would eliminate over $26 billion annually in state GDP, more than $1 billion in tax revenue, and as many as 147,800 jobs by 2030. In fact, 77% of all jobs lost would be outside of the oil and natural gas industry including health care, retail, construction, real estate, hotel and food services.
This latest study also reinforces a recent analysis conducted by the Colorado Oil and Gas Conservation Commission (COGCC) showing that Proposition 112 would put 85% of the state off limits to new oil and natural gas development. Learn more about the study: commonsensepolicyroundtable.org/oil-gas-setback-study
For almost a decade, Colorado state officials, environmental groups, community leaders and the energy industry worked together to achieve Colorado’s existing regulatory balance and improve our state’s oil and natural gas regulations so that they are some of the strictest regulations in the nation.
Our state’s strong energy regulations require companies to work with local governments when planning oil and natural gas development and in the last nine years, the state has had fourteen rulemakings to ensure the safety of the public and the environment.
Click here to learn more about the impacts of a reckless 2,500-foot setback.
Safeguarding private property from government confiscation is at the core of Colorado values. Amendment 74 defends private property owners like homeowners, businesses, farmers, and ranchers from state or local governments taking their property without compensation.
Amendment 74 protects all private property owners, including those who grow and raise our food and have invested a lifetime of financial and sweat equity into their property. When a government action takes or devalues property, it is only fair to make sure private property owners are compensated for their losses.
Denying family farmers, homeowners and other property owners the right to decide how to use their own land runs contrary to Colorado values. Amendment 74 will ensure that strong private property rights remain a cornerstone of the Colorado way of life.
Property owners, including farmers and ranchers rely on their property for their livelihood and currently the government has the ability to dictate how that private property is used without fairly compensating the owners. We must protect this safety net of fair compensation, based off their fair market value of property, otherwise it could have a devastating impact on the value of private property.
Click here to learn more about the importance of protecting private property rights for all Coloradans.