Banning Extraction of Mineral Rights could be a Takings with Consequences

Boulder County could be liable for $1 billion in petro


"If the seizure of private property rights in Colorado is codified through the local-control ballot initiatives, all property rights throughout the state are under attack," Michelle Smith, president of NARO-Rockies, said in a statement. NARO-Rockies represents more than 600,000 mineral rights owners in Colorado. Boulder County governments could owe royalty owners $1 billion or more if they ban natural gas and oil development in the Wattenberg field, according to a report Thursday from the National Association of Royalty Owners. That estimate, prepared by Netherland, Sewell & Associates, is based on the financial losses mineral rights owners would suffer if petroleum reserves remain untapped because of local-control measures.    

June 16, 2014