Colorado Petroleum Council: New Rules On Oil And Natural Gas Should Focus On Encouraging Investment In Colorado's Economy And Jobs

The recently released proposed rules covering oil and natural gas operations in Colorado will be judged based on their impact on investment, development and job creation, according to the Colorado Petroleum Council.

“The industry supports a common sense regulatory approach that promotes the safe and reliable production of oil and natural gas to benefit Colorado consumers,” said Tracee Bentley, executive director of the Colorado Petroleum Council. “While we are reviewing the proposals carefully to determine if they improve existing regulations, Colorado needs to take great care that we do not add more duplicative and costly regulations that could smother investment in the state.”

Colorado’s oil and natural gas operations support more than 200,000 jobs in the state. Recent studies show that with the right energy policies, Colorado can create thousands of additional jobs, generate more revenue to help support local schools, develop infrastructure, and preserve Colorado’s leading role in America’s energy revolution.

“Colorado jobs, revenue for the government and economic growth have been a part of thoughtful discussions within the governor’s task force,” said Bentley. “But it is critical that new rules don’t create needless roadblocks to responsible energy production.

“The oil and natural gas industry has a long history of working collaboratively with state and local officials in Colorado to protect the environment and create jobs. We will analyze the recommendations and continue to work with policymakers to ensure the state remains at the forefront of America’s energy renaissance."

The Colorado Petroleum Council is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.