The bottom dropping out of the oil industry may cost Colorado governments as much as One Billion Dollars in tax revenue per an article in the local rag.
The state’s petroleum industry employs about 90,000 people, directly and indirectly, generates $13.5 billion in economic activity, and provides $1 billion in taxes to state and local governments, according to an analysis from the University of Colorado Boulder.
For years the environmental whackos have been agitating to shut down the petroleum industry. Now they are getting their wish, second thoughts are emerging. Again, from the local rag.
Some environmental groups are sounding the alarm about the damage that could result if oil and gas producers go under in large numbers because of severe financial pressures.
About the only larger newspaper in the state without a leftist bent is in Colorado Springs. A recent editorial.
Other Voices: Epidemic recovery cash can’t become a slush fund in Colorado
This time around, we must watch the money for years into the future. Don’t let Colorado’s share of federal recovery dollars become a slush fund for politicians, former politicians and their favorite law firm.
Ha! Fat chance, IMO. You can read the whole thing here.
In the back of my head I can hear my late father’s voice talking about, “The belly flapping principal”.
Trust Funders Angst
In past blogs I’ve identified areas where they flock. These are the same areas dependent on tourism.
Food services, accommodations, retail, and arts, entertainment and recreation represent four of the five hardest-hit industries, Gedney said. Tourism covers jobs in all four of those areas, so it isn’t a surprise that the counties most dependent on outside spending have seen some of the biggest job losses percentage-wise.
A lengthy article here.
Many have businesses in these areas. The cost of living is high, and the “little people” who do the dirty jobs are departing in droves.
At the local level, the restrictions being imposed show exactly how tyranny by government works. $2,500 for not wearing a mask in Aspen. Summit County officials going door to door to identify short term rentals (AirNub) which have, by decree, been banned. Gunnison County bans non residents who own vacation homes in the county from living in them. This is just a few examples; there are many more.
Casino gambling in Colorado is restricted to Gilpin County (Central City, Blackhawk and Teller County (Cripple Creek). Taxed, it provides most of the revenue for the counties. Now they are getting zilch with little relief in sight.
Snide WSF Observation
I doubt the (P)regressives who swept into office last election ever dreamed this situation could occur. Will they step up to the leadership positions they were elected to fill? WSF isn’t holding his breath.