Bill to end Colorado oil, gas permitting could have $2B impact on tax revenue: Report

(The Center Square) – A bill to substantially restrict oil and gas permitting in Colorado would result in widespread financial and environmental impacts, according to a new report by a research group.

The report, published by the Common Sense Institute, a free-enterprise think tank, says Senate Bill 24-159 would negatively impact the state’s economy as well as tax revenue at the state and local levels.

The legislation also would result in increased emissions, according to the report, which referenced the recently published Colorado Greenhouse Gas Pollution Reduction Roadmap 2.0 Report to support its point.

“More fuel would be imported to Colorado, primarily by heavy trucks carrying oil and gas products, which themselves produce local air pollution,” the state document says.

SB24-159 would mandate the Colorado Energy & Carbon Management Commission to adopt regulations ending the issuance of new oil
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