INITIATIVE 97: Harmful for Mineral Owners
Information on the Initiative
Initiative 97 seeks to ban essentially all new Colorado oil and gas development , which puts our public schools and state at risk for significant financial loss.
Facts about Initiative 97:
*CAMRO has extensively reviewed the impacts of this initiative to the Wattenberg Field. All statistics come from this specific area*
- The out-of-state funded initiative seeks to ban essentially all new Colorado oil and gas development.
- Changes the current setback of 500 ft. from occupied structures, ditches, and subjective areas of interest, to a 2,500 ft. setback.
- Colorado public schools are one of the largest beneficiaries of oil and gas leasing.
- Since 1980, the Land Board's education funds received over $560 million in revenue from oil and gas leases.
- The Colorado Land Board would be unable to reap the benefits of future innovations.
- Untapped minerals would have an ultimate recovery of $180 billion dollars over the life of the field.
- 85 percent of non-federal land would be eliminated from future oil and gas development.
Former Secretary of the Interior, Ken Salazar, Governor John Hickenlooper, and U.S. Rep. Jared Polis oppose the measure.