Oil & Gas Industry’s Positive Impact on Agriculture in Northern Colorado
K99 has teamed up with LaSalle Oil to “Celebrate Colorado’s Farmers and Ranchers", who benefit greatly from the responsible production of domestic oil and natural gas. The benefit is from direct involvement with the development of oil and natural gas, and from the boost it provides to the entire state economy.
It certainly has an impact in Weld County. According to FuelColorado.com:
Weld County is the top oil producer in Colorado. Producing more than half of the oil in Colorado and has about 40% of all wells statewide, Weld County's oil and natural gas operators bring in around $2.4 billion in revenues, creating millions of dollars in taxes for state and local government. These tax dollars help offset the cost of county services and thus provide tax relief for other Weld taxpayers.
The Proposed 2500 Foot Setback
What would happen if a ballot initiative passed restricting oil and gas production in Northern Colorado?
A new economic impact analysis confirms that the proposed ballot initiative for 2500ft setbacks of oil and gas wells would have a dramatically negative impact on the Colorado economy. The study, by the Metro Denver Economic Development Corp. and completed by the Business Research Division at the University of Colorado’s Leeds School of Business, shows the ballot initiative would cost the state 54,000 jobs and more than $7 billion within five years.
Chad Vorthmann, executive vice president of Colorado Farm Bureau says,
Our analysis has shown the anti-oil and gas initiatives would have a huge negative impact on the productive value of Colorado’s farmland. This new study confirms our worst fears and casts a dark cloud over our future rural and agricultural economy in Colorado should these initiatives pass in November.”
Celebrating Northern Colorado's Farmers and Ranchers is brought to you exclusively by LaSalle Oil Company. Established in 1991 as a provider of bulk oils and fuels in the Northern Colorado area, LaSalle Oil is committed to providing only the highest quality products and services to our customers. For more information about Northern Colorado’s premiere oil and fuel distributor please visit LaSalleOil.com.