RBC — The Colorado Oil and Gas Conservation Commission Monday reported 8,027 drilling permits were issued in 2008, 26 percent higher than the previous record of 6,366 permits issued in 2007. According to the Rocky Mountain News, Garfield County led the way, accounting for 37 percent of the permits followed by Weld County with 27 percent. A permit does not necessarily mean that companies will drill, as reflected by a 36 percent drop in the past month in the number of rigs in the state.
Dear Editor: On Fortune magazine’s recent list of the most profitable companies in 2010, Exxon’s profit as a percent of revenues was 8.6 percent. By sharp contrast, Coca-Cola’s was 34 percent. Google’s was 29 percent.
Dear Editor: It is disconcerting that counties like Arapahoe, Elbert, Douglas and El Paso are trying to pass county-specific regulations for oil and gas.