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Latest Colorado Amendment 58 Stories

2009-04-30 08:34:00

HARRISBURG, Pa., April 30 /PRNewswire/ -- A well-structured severance tax on natural gas production will protect Pennsylvania taxpayers from shouldering the public costs that come with increased drilling, according to a report released today by the Pennsylvania Budget and Policy Center. "Natural gas extraction in the Marcellus Shale has substantial risks and substantial costs that have not yet been fully explored in the rush to drill," said Sharon Ward, Director of the non-partisan policy...

2008-09-20 12:00:47

By Gargi Chakrabarty The Department of Natural Resources charged, among other duties, with policing Colorado's oil and gas industry will see its budget grow modestly if voters approve Amendment 58 in November. The ballot measure calls for eliminating an ad valorem tax credit that allows oil and gas producers to reduce their severance tax payments to the state. If the measure passes, the state expects to collect an additional $300 million in severance tax revenue each year. Under the...

2008-09-20 12:00:47

By Gargi Chakrabarty An epic battle is brewing between Gov. Bill Ritter and Big Energy, and come November it will be up to voters to settle the matter. The warring parties have raised more than $12 million in the increasingly belligerent fight over Amendment 58, a ballot measure that six weeks before the election is already the costliest issue campaign in state history. Ritter is leading a coalition of environmental groups, led by the Nature Conservancy, and higher education backers to...

2008-09-20 12:00:28

By Todd Hartman Key players behind Amendment 58 Gov. Bill Ritter Colorado's governor is investing political capital in a measure that he sees as an investment in the state's future through higher education, environmental preservation, infrastructure and alternative energy projects. He's also taking on a powerful foe in the oil and gas industry, which hasn't been happy with a parallel effort by the Ritter administration to toughen environmental and public health regulations on energy...

2008-09-12 09:00:46

By Todd Hartman A trio of rural officials on Thursday criticized a ballot proposal that would boost state revenues from gas and oil drilling, warning that it could drive energy companies from areas of the state where local property tax rates are higher. That, in turn, would jeopardize funds for schools, fire districts and roads, they said. "Local homeowners and businesses in Weld County will be left holding the bag," said Weld Commissioner Bill Jerke. Their "property taxes must...

2008-07-29 09:01:08

By Gargi Chakrabarty A state tax on the oil and gas industry would jump a dramatic 137 percent if voters in November approve a ballot measure supported by Gov. Bill Ritter, according to a study paid for by the industry. The measure calls for eliminating an ad valorem tax credit that allows energy companies to significantly cut their state severance tax. If passed, it would raise roughly $321 million a year - with the bulk of the money going to college scholarships. Supporters of the...

2008-07-16 09:01:11

By Bill Richardson I must respond to the proposed Initiative 113 and the lies that are promulgated by its proponents, "A Smarter Colorado" et al. ("Drilling tax backers raise $450,800," July 8.) A better name for this group would be "A Dumber Colorado."This initiative is nothing more than a proposal by tax-and-spend Democrats to fund pet projects during an election year. We do not need to increase spending on college scholarships, renewable energy, wildlife projects, impact studies or...

2008-07-16 09:01:11

By Todd Hartman Opponents of a measure to increase state revenues from oil and gas drilling are accusing the initiative's backers of misleading voters in a radio advertisement. The ad's assertion, that Colorado is the only state still giving oil companies a tax credit, is untrue, said a spokesman for Coloradans for a Stable Economy, which opposes the measure. Kansas and New Mexico offer "similar tax credits," opponents said in a press release Tuesday attacking the commercial. The...

2008-07-06 15:00:25

By David Falchek, The Times-Tribune, Scranton, Pa. Jul. 6--Gas exploration companies are spending millions and expecting to make many millions more from natural gas trapped in the Marcellus Shale rock formation in Northeastern Pennsylvania. Even conservative estimates hold that the Marcellus Shale, the majority of which underlies Pennsylvania, offers 50 trillion cubic feet of recoverable gas. Yet, a key tax on oil, natural gas and mineral removal that has raised billions in public...

2008-07-04 09:00:39

By Tillie Fong Big money is rolling in from major oil companies to fight a proposed ballot measure that would increase state tax revenues from the oil and gas industry. According to a financial statement filed Thursday, Chevron Corp., EnCana Oil and Gas Inc., and Williams Cos. each gave $1 million to Coloradans for a Stable Economy, a group fighting the initiative. Another half-million dollars came from Pioneer Natural Resources, while Questar Exploration and Production Co. contributed...


Word of the Day
drawcansir
  • A blustering, bullying fellow; a pot-valiant braggart; a bully.
This word is named for Draw-Can-Sir, a character in George Villiers' 17th century play The Rehearsal.
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