Catherine Traywick | Bloomberg
Colorado’s legislature passed a sweeping overhaul of the state’s oil and natural gas laws, giving local governments more power to regulate drilling in one of the nation’s top crude-producing regions.
The bill, which passed the state Senate by just three votes amid intense industry opposition, now heads to the desk of Democratic Governor Jared Polis, a longstanding proponent of tightening public health and safety standards around oil and gas development who helped develop the reforms. The law passed Wednesday comes as Colorado pumps record volumes of crude, primarily from the Denver-Julesburg basin situated on the outskirts of Denver.
A proposed overhaul of Colorado’s drilling laws would affect producers with significant holdings in the state