|
In Colorado, a new audit has found deficiencies in regulation of the oil and gas industry by the state. Oil and gas companies failed to submit thousands of monthly reports, documents which among other uses help to determine how much the companies pay in taxes to the state. The audit found that regulators have not been effectively tracking the missing reports or penalizing the companies. Penalties for delinquent reports could have totaled up to $308 million. Rep. Dafna Michaelsen Jenet stated, "It was distressing to see that there was a culture of acceptance of not filing forms. And the top producers are the biggest violators and we're talking about thousands upon thousands of forms not filed."
Although the Colorado Oil and Gas Conservation Commission (COGCC) contests the number of total fines, it is working on fixing the deficiencies highlighted in the report. The audit will be revisited this summer to assess the COGCC's progress in regulating Colorado's oil and gas industry.
|
Buying, selling, and being able to have a robust sales season depends on us addressing existential issues now. Our industry is evolving and we understand that we have to lead on important issues like climate change and public lands, otherwise, the health of our industry suffers. But secondly, our consumers are demanding that brands lead on these important issues too, so those core values need to be part of every sales discussion.”
