by Daniel J. Graeber
Denver (UPI) Aug 5, 2014
Despite some outside reservations, the energy industry said Colorado has the right regulations in place for oil and gas development.
Colorado Gov. John Hickenlooper announced a deal with environmental groups and the energy industry he said would prevent ballot measures from curbing oil and gas development in the state.
The governor said he created a special task force that would outline ways to develop energy resources safely.
"Colorado is fortunate to have an abundance of energy resources, and we have an obligation to develop them in a way that is safe for our residents, supports jobs and the economy, respects private property rights and protects our environment," he said in a statement Monday.
Oil from Colorado accounts for one out of every 50 barrels produced in the United States and output is on the rise because of operations in the state's Niobrara shale basin. The state is home to nine of the largest 100 natural gas fields in the country.
Jack Gerard, president of the American Petroleum Institute, said Hickenlooper's decision would support an industry that's already created hundreds of thousands of jobs in the state.
"Colorado has some of the strongest oil and gas regulations in the country, and our industry has a history of working collaboratively with state regulators and local communities to protect the environment while promoting economic growth," he said in a statement Monday.
The regional chapter of the Sierra Club said it was standing beside communities in Colorado wary of the hydraulic fracturing that is in part responsible for the rise in oil and gas production.
"Public and environmental well-being should always come before the interests of the oil and gas industry," regional director Joshua Ruschhaupt said in an emailed statement.
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.|