Sunday, May 3, 2020

Kiss A Billion Dollars Good By

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.
Or it did.
Jobs in the oil patch are disappearing amid the double whammy of the coronavirus pandemic and a global oil price war. Weld County produces nearly 9 of every 10 barrels of oil in Colorado, and it’s safe to say there are few here who won’t be touched by the historic crash in energy prices.
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.

“We have serious concerns that the failing market could cause an increase in distressed operators in Colorado and other associated issues, including impacts to workers and everyday Coloradans losing their jobs,” Conservation Colorado, the Colorado Sierra Club, the Western Colorado Alliance and the League of Oil and Gas Impacted Coloradans sent the Colorado Oil & Gas Conservation Commission on Tuesday.
Other issues include increased flaring and venting of natural gas, abandoned infrastructure, orphaned wells, and noncompliance with existing rules designed to protect public health, safety and the environment.
“All of these issues come with associated human health and environmental impacts,” the groups warned.
Wishful Thinking

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.


Old NFO said...

I'd be moving up the Colexit plan... Just sayin...

drjim said...

I'd suspect they'll just go hat-in-hand to D.C.

LL said...

It's a budgetary disaster that is reflected in nearly every other state. The bottom drops out of oil and then the plague means that taxes will go up and state services will go down.

Well Seasoned Fool said...

Coloexit is very much on my mind.


My hope is this will create a Red Wave come the elections.

Brig said...

I'm hoping this is a wake the hell up for politicos & enviros, but hate that it is as ever, on the backs of the little guys.

Where were you thinking of coloexiting to?

Well Seasoned Fool said...

Wyoming or North Central Idaho. I like the area around Sundance, WY. Rapid City isn't too far for an airport with airline service. Sandpoint, ID is an interesting area. Oregon, if not for the political climate, would tempt me. Bandon is a place I enjoyed in years past. The area in Oklahoma NW of Boise City appeals to me; isolated, wild, rugged terrain and high plains to the South.

My age is a factor. At 75, my strength and stamina is diminished. Probably shouldn't be too far from urgent medical care.

A cousin lobbies for Baggs, WY. Just over the CO line in an area with deep ancestral ties going back to the late 1800's. Sandwash basin, Browns Park, and the Wyoming Red Desert were where my paternal side pioneered while, over the Sierra Madre range is North Park, home to my maternal side fore-bearers.

Sisty said...

In bound call center in Wamsutter

Well Seasoned Fool said...

That is vicious!

Brig said...

Ah, I'm thinking of N Idaho as well. Would like Oregon, but they are being ruled by the cra-cra in Portlandia.

Well Seasoned Fool said...

As is Washington State. Many places there I like.

LSP said...

Socialism is so very awesome until you run outta other people's money, to paraphrase Maggie.

Less happily, it seems LE's generally happy to enforce tyrannical orders.

I see trouble brewing all 'round.

Well Seasoned Fool said...

Our Sheriff is a Conservative. Being sued by the ACLU and others. So far, he is standing tall. The town clowns, not so much.