Studies Say Ending Colorado Tax Break Won't Hurt

By Steven K. Paulson, Associated Press Writer DENVER (AP) ― Ending a 30-year-old tax break for oil and gas companies would have little impact on gasoline prices and home heating bills, according to a report Thursday from a nonprofit group that promotes conservation. The report by economist Joe Marlow of the Tucson, Ariz., based Sonoran Institute disputes radio ads being run by the oil and gas industry, which opposes a proposed initiative for the November ballot that would end the tax credit. Colorado's production is minuscule and eliminating the tax incentive would have little or no impact on oil and natural gas prices, the report found. "The factors that drive gas and home heating prices are not local. Contrary to industry claims, if Colorado voters decide to end the tax break for the oil and gas industry, it would not raise... [read full story]