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How serious are they? Colo. leftists sold out their climate commitments for a paltry $140M

26 7
07.05.2024

That the environmental left is relentless is not news, but the current machinations on policies intended to suppress fossil energy production in Colorado are fascinating.

Under a compromise being negotiated between Gov. Jared Polis (D), the state's oil and gas producers and the environmental left, production fees estimated at $140 million per year (based on future crude oil and natural gas prices) will replace three bills before the legislature and three ballot measures, all of which are attempts to squeeze the oil and gas producers.

Senate Bill 24-159 would have prohibited permits for new oil and gas drilling by the end of 2029. Proponents argued that such a ban was necessary to “counteract climate change” — a silly claim, given that elimination of all Colorado greenhouse gas emissions would reduce global temperatures in 2100 by less than 0.003 degrees Celsius, going by the U.S. Environmental Protection Agency climate model. That bill was rejected by the legislature in March, but it remains harmful in terms of incentives for investment in the state. After all, it could come up again.

Senate Bill 24-165, ostensibly about air quality, is really an........

© The Hill


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