Amendment 74 would require state and local governments to compensate property owners when regulations — like a limit on drilling — reduce the fair market value of their property.
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Important if you're reading our Colorado fracking story today: The oil and gas industry has responded to the anti-fracking effort with a ballot amendment of its own. One lawyer I spoke with called it "the most cynical ballot measure every proposed."https://nyti.ms/2AmwpKr
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Colorado economist Phyllis Resnick told me it could cost the state billions of dollars and block even basic governmental regulations.
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The effort is funded by the oil and gas industry. But it's main public backer is the Colorado Farm Bureau.
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Chad Vorthmann, of the farm bureau, told me he supports 74 because "we don’t think government should be in the business of taking someone's property."
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But I found very, very, very few people who think 74 is a good idea. And a lot of people who are deeply concerned about its financial impact on the state.
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Mark Grueskin, a Colorado lawyer, describe the measure like this: "Rather than try to get even with a scalpel, the oil and gas industry used the grossest of meat cleavers."
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If you're a Colorado voter,
@abuvthefold at the@denverpost has more details here. https://dpo.st/2pYQO2aShow this thread
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