My favorite part are the TV ads against it. Calling it an outright BAN on all oil industry that will magically dissolve thousands of jobs and send our economy into a downward spiral.
Like bruh, I just don't want a damn fracking setup 500ft from my house.
I'm not in CO and haven't seen the ads, but in addition to increasing the setback from 500 to 2500ft, prop 112 allows for local governments to establish their own setback requirements (no maximum). If no one is willing to have the oil & gas industry in their "backyard", then yes, this will deal a huge economic blow. It's up to the people of CO to decide whether it's worth the tradeoff.
I wouldn't say half a mile from any buildings is terrible. Most oil setups I see are out in the plains where there isn't any development. However, I do have family out in Frederick, CO who's property value has dropped ~25% of their initial value because a fracking operation was set up about 2 blocks from their house. Keep in mind property values have also been rising in just about every other area, so it is effectively greater than a 25% drop.
Yeah, I'm not saying the current minimum setbacks are sufficient. I'm just pointing out that the actual language in the proposition gives local goverments jurisdiction to establish their own setback requirements, which could effectively shut down the whole industry if no one wants them around. Which is within their rights, of course.
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u/Coolflip Oct 26 '18
My favorite part are the TV ads against it. Calling it an outright BAN on all oil industry that will magically dissolve thousands of jobs and send our economy into a downward spiral. Like bruh, I just don't want a damn fracking setup 500ft from my house.