InvestorsHub Logo
Followers 94
Posts 13654
Boards Moderated 1
Alias Born 01/15/2005

Re: researcher59 post# 54913

Friday, 10/19/2018 12:01:02 PM

Friday, October 19, 2018 12:01:02 PM

Post# of 112559
BCEI, a week ago, the demcocratic head of the Colorado house said that although she is for Prop 112, she didnt believe it would pass b/c of the vast difference in money. More recently, several pro prop 112 rallies have been cancelled due to threats of violence against them. The democrats want to craft a compromise on the issue in 2019, otherwise they claim they'll go for it again in '20 with more money. Here's one article:

Colorado House Majority Leader Says Prop 112 Unlikely to Pass
By Catherine Traywick
October 12, 2018, 11:42 AM EDT

A ballot measure that could curb oil and gas development in Colorado is unlikely to pass in November, according to Colorado House Majority Leader KC Becker, a Democrat representing liberal Boulder county. Still, the measure’s success thus far will force the statehouse to take action on the issue in 2019.

Becker, who has endorsed Proposition 112, said proponents simply don’t have the funding necessary to go up against the oil and gas industry, which has pumped more than $30 million into a campaign to defeat the measure. Proponents, meanwhile, have raised $700,000.

If the effort fails, the statehouse will take up legislation to address public concern about growing oil and gas development, Becker said on an investor call with Robert W. Baird & Co. analysts. The scope of the bill remains to be seen but would likely address funding for orphan wells, air and water monitoring, greater local control over siting and potentially a setback from infrastructure, she said.

"We’ll push harder to get something done during the first half of the session" which runs from January to May, said Becker. "No one will be perfectly happy. What we want to get done is turn down the volume on this whole thing and address people’s basic concerns."

If the legislature fails to craft a political compromise on the issue, Colorado will see another anti-drilling ballot measure in 2020 -- "with a lot more money" behind it, Becker said.


Amazing Grace:

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.