By Mark Jaffe | Colorado Sun
New Colorado rules to insure there is enough cash to plug each oil and gas well in the state at the end of its life may not generate enough money to do the job, according to an analysis by Carbon Tracker.
The report by the nonprofit environmental think tank said that in the short-run the state may end up with less in financial guarantees than it had before the new rules were adopted nearly two years ago and about 39% of oil and gas companies still have not completed financial assurance plans.
The Colorado Energy and Carbon Management Commission, which adopted and administers the financial assurance rules, disputes those findings.