DENVER (July 9, 2018) – Colorado’s business community is more determined than ever to defeat anti-oil and gas Initiative 97, following the release of a new state analysis showing the ballot measure’s staggering impacts.
“The groups behind Initiative 97 want to drive oil and natural gas development out of Colorado, plain and simple,” said Peter Moore, Chairman and CEO of Vital for Colorado, a coalition of state business organizations including the Colorado Association of Commerce and Industry, South Metro Denver Chamber of Commerce, Colorado Concern and the Aurora Chamber of Commerce.
“The new analysis shows the Colorado energy sector would be devastated by this ballot measure – and the business community refuses to let that happen. Every sector of the state economy is important, but the energy sector plays a critical role. Local energy production supports jobs, investment, tax revenues and quite literally fuels every other sector of Colorado’s economy,” Moore said.
“There are hundreds of thousands of working families in Colorado whose livelihoods depend on local oil and natural gas production, and billions of dollars of future tax revenue are at stake,” said Newmark Knight Frank Managing Director and Vital for Colorado board member Kittie Hook. “How can we make progress on education, transportation and other challenges if the state economy is crippled and we are struggling to fund basic services?”