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Drilling Fine Hike Approved In Colorado

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(credit: CBS)

(credit: CBS)

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DENVER (AP) – Oil and gas drilling fines in Colorado are closer to going up dramatically. The state House gave final approval Monday to hiking the fines dramatically, from a maximum of $1,000 a day to a maximum of $15,000 a day.

The hike would be the first increase to Colorado drilling fines since 1955. The bill now heads to the Senate.

The fine bill is among a series of measures designed to crack down on energy producers in Colorado. The energy industry has not disputed that drilling fines are due for an update, though industry groups say the $15,000-a-day figure needs to be reviewed.

The bill also removes a maximum cap of $10,000 on drilling fines.

LINK: House Bill 1267

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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