Colorado to Pull Anti-fracking Initiatives; Oil Shares Rise

Posted by Eric Haun
Monday, August 04, 2014
Colorado Gov. John Hickenlooper

Colorado Gov. John Hickenlooper has persuaded anti-fracking groups to scrap two ballot initiatives that would have curtailed oil and gas drilling, and news of the agreement on Monday lifted share prices of oil producers.

Hickenlooper, in a televised news conference, said he had instead put together a task force with representatives from industry, environmental groups and local communities to set standards for the state's growing petroleum industry.

This "will provide an alternative to ballot initiatives that, if successful, would have regulated the oil and gas industry through the rigidity of constitutional amendments and posed a significant threat to Colorado's economy," he said in a broadcast by Denver's CBS station.

The compromise was seen as a positive for energy companies with big operations in Colorado like Noble Energy Inc and Anadarko Petroleum Corp, sending their share prices up more than 5 percent.

Several municipalities in Colorado worried about environmental issues have sought to ban the practice of hydraulic fracturing, or fracking, which uses a mix of pressurized water, sand and chemicals to unlock hydrocarbons from rocks.

But those efforts have faced challenges, with lawyers and courts saying their legality would depend on the state's own laws for fracking.

(Reporting By Anna Driver and Terry Wade)

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Environmental

Investment Impact in Inland Waterways System

The National Waterways Foundation (NWF) has commissioned and released a two-year, ground-breaking study by the University of Tennessee and the University of Kentucky,

The 2nd Ballast Water Management Summit

Sign-up for this year’s most in-depth exchange of information and best venue for BWT stakeholders to network and meet regulatory peers is underway.   Infocast’s

Britain to Ban Fracking in National Parks

Britain said on Monday it would ban fracking in national parks, reversing a policy announced last year, in a concession to the opposition Labour Party which had

News

CFE to Lift Eight LNG Cargoes

Mexican state-owned utility CFE has bought eight cargoes of liquefied natural gas (LNG), four traders said. Swiss trading house Trafigura was awarded the bulk of the volume,

‘Maritime Spectrum’ of CMMI a Big Draw

For The Company of Master Mariners of India, the conference “Maritime Spectrum” that comes at the turn of each year has become a brand in itself, and each one

ms Veendam Rescues Pilot Off Maui Coast, Hawaii

On Sunday, Jan. 25, 2015, at 5:21 p.m. local time while en route to Lahaina, Hawaii, Holland America Line’s ms Veendam answered a request for assistance from

Government Update

Panama Flag Approval for Seagull

Seagull Maritime has become the first overseas company to secure training centre approval from the Panama Maritime Authority following the PMA’s 2014 change of leadership.

Investment Impact in Inland Waterways System

The National Waterways Foundation (NWF) has commissioned and released a two-year, ground-breaking study by the University of Tennessee and the University of Kentucky,

China Warns India, US on Regional Conflict

There is no need for India and the United States to have concerns on navigation and over flight over the disputed South China Sea, says China. "The situation in

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2249 sec (4 req/sec)