Oil Firms Pull Out Big Bucks to Fight Severance Tax
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Rocky Mountain News: Big money is rolling in from major oil companies to fight a proposed ballot measure that would increase state tax revenues from the oil and gas industry. According to a financial statement filed Thursday, Chevron Corp., EnCana Oil and Gas Inc., and Williams Cos. each gave $1 million to Coloradans for a Stable Economy, a group fighting the initiative. Another half-million dollars came from Pioneer Natural Resources, while Questar Exploration and Production Co. contributed $100,000. So far, reported expenditures by the group total slightly less than $200,000. The early contributions are an indication of the resources that will be expended by the industry to fight the initiative backed by Gov. Bill Ritter. "When one industry is singled out for such a massive tax increase, of course they're going to fight it," said Dan Hopkins, spokesman for Coloradans for a Stable Economy.
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