Colorado’s Initiative 97 Unwisely Blocks Oil and Natural Gas Development
Proposition 112 is making national news…and not in a good way. Read the latest in Forbes on why Coloradans should vote ‘no’ on Proposition 112:
Thanks to a Rocky Mountain shale party, Colorado is an increasingly important oil and gas producer. Over the past decade, Colorado’s oil production has surged 365% to 380,000 b/d and natural gas production is up 30% to ~5 Bcf/d. The future shines bright: “Western Colorado’s Mancos Shale formation holds an estimated 66.3 Tcf of natural gas, way up from the 1.6 Tcf estimate in its 2003 appraisal. puts the Mancos basin 2nd only to the Marcellus Shale in terms of the largest gas reserves in the U.S.”
But now unfortunately, Colorado has been thrown in the oil and gas news for all the wrong reasons.