5/9: Don't raise the severance tax

Whether liberals like it or not, the oil and gas industry is one of the biggest economic drivers in the state. So an increase to Colorado's severance tax could have a serious and negative impact on our already fragile economy.

More on that in a moment on the Face The State Radio Minute.

Colorado is not feeling the affects of the current economic downturn as intensely as the rest of the country, and that is largely owed to the booming energy industry here. Because of better technology and transportation it’s now cost effective to tap the small and hard to access oil and gas fields of Colorado's Western Slope.

This boom has been like an adrenaline shot for the region. Home values are up and good jobs are on the way.

An increase to the state’s severance tax could change all of that in one fell swoop. Energy companies are already wary of investing in Colorado after the Oil and Gas Commission rewrote the state's energy rules, and an increase to the severance tax could be the last straw. Economic growth is good for all of us. Let’s not drive business out of the state.

For FaceTheState.com, I’m Brad Jones.