Opponents on either side of the Colorado fracking debate have abandoned their posts to meet in the middle.
The move brings an end to the industry showdown which threatened to curb the $30billion revenue generated through oil and gas exploration in the state.
Environmental activists and drilling backers dropped plans to fight to the bitter end in the wake of a compromise orchestrated by Colorado Governor John Hickenlooper and US Representative Jared Polis. As part of the deal a new task force, dubbed the Blue Ribbon Commission, will be formed to study the industry’s impact on communities.
Previously, fracking opponents lobbied for more stringent controls, including prohibiting fracking operations if they were less than 2,000ft away from an occupied building. However, supporters of the technique, which uses water, sand and chemicals to free fossil fuels from shale rock, said the 2,000ft ban would have a devastating effect on the industry. In response to the activists’ restrictive proposal, exploration supporters launched their own campaign to deny tax revenue to cities utilising fracking moratoriums or bans.
However, both bids have now been dropped.
“This is a victory for bipartisan common sense and common ground,” said Tisha Schuller, president of the Colorado Oil & Gas Association
“Going forward the grassroots movement that has driven this campaign will remain engaged in next steps and will monitor the formation of the new Blue Ribbon Commission and those appointed to it,” Mara Sheldon, a spokeswoman for Coloradans for Safe and Clean Energy, which backed the measures restricting fracking, added.
Colorado’s Denver-Julesburg Basin is one of the most prolific exploration areas in the country, propelling Colorado to the top of the production tables. The state is currently the nation’s sixth-largest natural-gas producer and ninth-biggest oil producer.