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Colorado oil and gas initiatives gaining momentum

Zach Koppang | Shale Plays Media

In the on-going effort to grant local Colorado governments more control over oil and gas operations, two initiatives have received half the signatures required for them to be included on November’s ballot, according to the Northern Colorado Business Report.

One of the proposed measures, Initiative 121, aims to bar communities that have banned hydraulic fracturing from receiving tax revenue generated from oil and gas operations in other areas of the state. It currently has a collection of more than 55,000 signatures.

Initiative 137 is proposing a requirement of circulating a petition for signatures in order to estimate the fiscal impact a particular measure may have on state and local government revenues, expenditures, taxes and liabilities of a proposed measure. The initiative currently has more than 59,800 signatures.

Both initiatives are designed to curb oil and gas development. Recently, voters in Lafayette, Boulder, Fort Collins, Longmont and Broomfield have passed hydraulic fracturing bans. Residents of Loveland, however, defeated a moratorium on fracking last month. To appear on the November ballot, the initiatives must obtain 86,105 signatures by August 4.

Read the story here, at the Northern Colorado Business Report.

Related: Loveland, Colorado voters examine facts, welcome fracking

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