Longmont mulls stand against statehouse bill that would compensate drillers for losses

Colorado State Capitol

By John Fryer – The Denver Post – February 20, 2017

Rep. Perry Buck’s measure would make governments that impose a moratorium compensate oil, gas companies

Longmont’s City Council is to consider taking a formal stand Tuesday night against a proposed state law that could make Colorado’s local governments liable for paying oil and gas mineral rights holders the market values of those rights if a city, town or county government bans hydraulic fracturing.

Windsor Republican Rep. Perry Buck’s House Bill 17-1124 — which would also require local governments to compensate oil and gas operators, mineral rights owners and royalties holders for lost revenues if those cities, towns or counties impose moratoria on oil and gas exploration — is up for a House committee hearing on Wednesday afternoon.

Longmont has neither a fracking ban nor an oil and gas development moratorium in place now, after last May’s Colorado Supreme Court rulings that Longmont’s voter-approved fracking ban and Fort Collins’ voter-approved five-year fracking moratorium were preempted by state law.

Continue reading story at The Denver Post

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