Buck calls on Polis to withdraw anti-energy independence initiatives
/Press Release
GREELEY, CO- Weld County District Attorney Ken Buck, the Republican nominee for the 4th Congressional District, today called on Congressman Jared Polis to drop his anti-energy independence ballot initiatives. District Attorney Ken Buck questioned why Polis would want to outsource American jobs to our enemies in the middle east.
“Energy development is a critical industry in the 4th District, and these initiatives will have a devastating effect on our citizens,” said Buck. “These initiatives will cost us revenue, jobs, and benefits to small businesses associated with the energy industry. During a period of stagnant job growth, it makes no sense to restrict an industry that employs people and benefits service industries such as hotels, restaurants and other small businesses. We simply cannot afford these measures.”
The oil and natural gas industry provides $6.5 billion in total labor income and $30 billion in economic output annually. In 2014 energy companies will invest $7 billion in operations focused on the Niobrara Formation, according to the Denver Business Journal. It is estimated that companies working the basin are planning to invest $10 Billion dollars over the next 5 years.
In 2012 the oil and natural gas industry paid more than $163 million in severance taxes as well as $1.6 billion in revenues to state and local governments, school districts, and special districts. In Weld County alone oil and natural gas operators have contributed almost $150 million in ad valorem tax revenue in 2012.
“This is not only about job creation and revenue.” continued Buck, “In 2013 Colorado set a new record for oil production. Fracking in Colorado is a critical component to achieving energy independence. This is an issue critical to our nation’s security.”
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