State Representative Bernie Buescher says a new bill passed by the U.S. Congress could take millions of dollars away from Colorado.
He says this past week, Congress approved a bill with a provision, that decreases the amount of royalties Colorado receives from oil and gas drillers in the state.
He says Colorado has received 50 percent of the royalties for years, but will now only receive 48 percent. Even though it's only a two percent drop, Buescher says it translates into nearly 4 million dollars that the state will lose.
With more drilling likely to take place atop the Roan Plateau, Buescher says that amount could double in only a few years.
"Systematically the feds are balancing their budget," said Buescher. "Not by cutting spending, but by cutting distribution back to the states. That's very frustrating."
Buescher says he is currently working with U.S. Senators Wayne Allard and Ken Salazar to get that provision of the bill reversed.
KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.powered by Disqus