Oil industry's tax break looks as if it will stay

Denver Post- November 4, 2008
The oil and gas industry has been successfully receiving tax breaks and refunds for thirty years, with 2004 giving 81 percent of taxpaying filers some amount of a refund. Amendment 58 would have raised state collections of severance taxes from about $200 million to about $500 million. The money would have provided $90 million for college scholarships and the rest split up for sustainable projects and infrastructure projects. Colorado still has the lowest severance tax in the west, but the oil industry paid its way through this piece of legislation. I think not enough people were aware of the benefits of the proposal and were more concerned with the possibilities of price increases or tax issues.

http://www.denverpost.com/ballotissues08/ci_10900351