Over the past few weeks, Coloradans have watched pump prices rise to near-record highs. With our national inflation rate at 7.9%, a 40-year high, Colorado residents are paying more for everything. The average Colorado household pays more than $500 a month in extra cleaning fees due to the rate of inflation. Energy prices are rising in all areas, not just for gas but also for heating a home. Xcel reported that energy rates rose 49.2% in December 2021 compared to December 2020, costing Coloradans nearly $40 more per month.
Our national and state energy policies are broken and all Coloradons have paid for them.
Oil prices are at their highest level in seven years amid continued global supply shortages, labor constraints, growing geopolitical volatility in Eastern Europe, economic rebound from the first stages of the pandemic and political uncertainty at the state and federal levels.
Colorado families can’t afford it. We cannot afford these restrictive energy policies. Adjusting these policies and allowing Colorado to lead the nation in energy production is one way to address the cost of living in Colorado. The production and export of our energy will bring stability and increased capital to Colorado’s economy.
While Russia’s invasion of Ukraine has affected oil prices, it’s critical to understand that years of restrictive federal and state policies have crippled U.S. energy supplies, a contributing factor to high prices. today, because we depend on foreign countries for supplies.
At the start of the session, when we came together to give you our pledge to Colorado, one of the issues we promised to address was the rising cost of living. We spent every moment of the session introducing legislation and working to pass it to make a difference for Colorado families. Adjusting these policies and allowing Colorado to lead the nation in energy production is one way to address the cost of living in Colorado. The production and export of our energy will bring stability and increased capital to Colorado’s economy.
Earlier this month, Colorado’s Legislative Republicans came together to introduce a resolution calling on Governor Jared Polis and our fellow Democrats to work with us to create an energy policy that works for the people of Colorado, creates a sustainable energy system and protect our natural environment. . The Democratic leadership gave that resolution to the Senate State Affairs Committee, where Democrats killed it (3-2) on Tuesday, March 29.
This resolution addressed long-term solutions to Colorado’s affordability crisis; Republicans not only have a vision for Colorado’s long-term economic stability, but also practical energy solutions to achieve that vision. Unfortunately, Democrats are preventing this vision from becoming a reality.
State Representative Hugh McKean is the Colorado House Minority Leader. State Senator Jerry Sonnenberg represents Senate District 1 in the Colorado Legislature.