Hundreds of thousands of jobs hang in the balance at the Colorado legislature as a senate committee is set to hold a hearing over a complete ban on oil and gas development.
Senate Bill 159 would drive the industry out of Colorado, ceasing all new oil and gas permits after January 1, 2030. The bill would also apply to permits needed to modify old wells to increase production. Wells falling under permits issued between the enactment of the bill and January 1, 2030 must begin drilling before the end of 2032.
The consequences of SB 159 extend far beyond the energy sector, targeting workers employed directly or indirectly by the industry. Overall, Colorado’s oil and gas industry supports more than 303,000 direct and indirect jobs and contributes more than $48 billion towards the state economy each year.
The Colorado Chamber of Commerce has added SB 159 to its Job Killers list and urges anyone concerned with the state’s future economic climate to contact legislators about the bill.
SB 159 is scheduled to be heard in the Senate Agriculture and Natural Resources Committee. You can contact members of the committee using the simple tool below: