DENVER – A controversial bill to overhaul how oil and gas will be regulated in the future is a step closer to making it to the desk of Gov. Polis. Senate Bill 19-181 passed in the house on a vote of 36-28. The Senate originally passed the bill on March 13th.
The oil and gas bill has spurred tremendous debate with concerns about local governments slowing down development, reducing tax revenue, possibly banning drilling and putting tens of thousands of jobs in peril. Once signed by the governor, the legislation will require increased disclosure of pipeline and flow line locations and enhanced monitoring of pipelines. It also calls for adequate financial assurances to take care of abandoned wells and stronger air-quality rules, as well as mandating that state regulators emphasize public safety over promoting oil and gas production.