Ritter asking lawmakers to consider tax break elimination carefully

By: KKCO Email
By: KKCO Email

Governor Bill Ritter is asking congressional leaders to carefully consider the effects that getting rid of a tax break could have on the oil and gas industry.

In a letter Wednesday, Ritter says eliminating a tax deduction for drilling costs could further discourage new oil and gas exploration and development.

Colorado's oil and gas industry, which has scaled back amid dropping prices and tight credit, has clashed with the Ritter Administration over new, stricter regulations.

Some in the industry say the regulations are what have discouraged investment in Colorado.

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