Shortsighted Democrats Push New Bill to Cripple Colorado's Oil and Gas Industry by 2030
In a relentless assault on Colorado's oil and gas industry, the state's Democratic lawmakers are once again spearheading a host of bills that threaten to undermine the energy sector.
Ignorant of the facts surrounding clean energy production in Colorado, many first-term Democrats, seem determined to push their agenda, jeopardizing the livelihoods of thousands of hardworking Coloradans.
The proposed legislation, which aims to halt oil and gas drilling in the state by 2030, is causing panic within the industry as it would revoke the ability to permit new wells throughout the decade. Draft language has already been discussed with industry leaders and environmentalists, and a version of the bill is expected to be submitted to the state legislature imminently.
Members of the oil and gas industry view this measure as a blatant attempt to obliterate a thriving multibillion-dollar Colorado industry. Consequently, they are mobilizing to mount an unprecedented political campaign to oppose the bill.
Kait Schwartz, the director of API Colorado, the local chapter of the American Petroleum Institute, described the industry's effort as an "extreme force" aimed at defeating the legislation.
The bill, as outlined in a draft seen by the Denver Business Journal, would instruct the Colorado Energy and Carbon Management Commission, the state agency responsible for regulating oil production and well drilling, to cease issuing permits for new wells by January 1, 2030.
During the two years leading up to the phase-out deadline, the number of drilling permits issued would be capped at 660 and 330 to prevent a last-minute rush. Additionally, wells with approved permits between July 2024 and 2030 would need to commence drilling by 2032, or the drilling permission would expire.
Sen. Sonya Jaquez Lewis, a Democrat from Boulder County, and Sen. Kevin Priola, a Democrat representing Adams and Weld counties, are the co-sponsors of the bill. Jaquez Lewis has confirmed her intention to introduce the drilling phase-out legislation during this session.
Colorado currently ranks as the fourth-largest crude oil producer and is among the top 10 natural gas producers in the United States. The industry provides employment opportunities for thousands of Coloradans across the state.
With approximately 48,000 active wells and around 50,700 inactive plugged wells, Colorado's oil and gas sector plays a significant role in the state's economy.
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In 2023 alone, wells were projected to produce 165 million barrels of oil and substantial quantities of natural gas.
While a statewide drilling setback initiative was defeated at the ballot box in 2018, it was followed by the passage of Senate Bill 181, which imposed stricter limits on the industry. Governor Jared Polis had previously claimed that this bill would bring an end to the oil and gas wars in the state.
However, it seems that the freshman Democrats currently in power at the state Capitol never received that memo.
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