The Boulder City Council voted to adopt a resolution in support of “Colorado Rising” a ballot initiative also known as Initiative 97 that would require 2,500-foot setbacks from gas and oil wells and sensitive natural areas. The only Councilman to oppose the resolution was Bob Yates.
Current setbacks in Colorado require a 500-foot buffer from homes and 1,000-foot buffer from high occupancy buildings such as schools. According to the non-partisan Colorado Legislative Council, this measure would reduce gas and oil several severance taxes operators pay to the state and decrease property taxes local governments receive. Obviously, it would also reduce future oil and gas revenues since the measure would drastically restrict the number of new wells companies could drill.
IRES MLS: Come Home to Colorado 