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Raising severance taxes won’t deter oil and gas drilling, says expert

This November, Coloradans will be faced with two ballot initiatives dealing with how the state collects and allocates taxes on the oil and gas industry. Severance tax, so-named because it applies to natural resources permanently severed from the earth, not only dominates part of the the state's ballot, but also much of the political discourse this election season. Some fear that increasing taxes on the industry — as Governor Bill Ritter's Amendment 58 will do — will only scare off oil and gas companies or raise gas prices in Colorado.