Nobody prefers pollution over a
clean environment. Even the most ardent anti-environmentalist has a cutoff
point where they believe environmental contamination is not worth the benefits
derived from the activity that creates it. Though where this line is drawn is a matter of
one’s values and opinion, the information that informs this opinion should be
factual. An often heard opinion is that Oil & Gas development and fracking
is good for Huerfano County’s economy, but this claim is rarely, if ever, supported
by a cost benefit analysis factoring in the negatives like noise, toxic fumes,
pipelines, increased truck traffic, lights, noxious air emissions, water
contamination and the potential destruction of our clean and uncluttered
landscape. All of which are economic liabilities
for property owners. Banks and insurers are adopting guidelines that forbid
mortgage loans or insurance coverage on properties affected by drilling. Boulder, CO,
real estate agent, Nanner Fisher, told the Boulder
iJournal that selling
properties near drilling operations is difficult. “For the most
part, if there is a well that’s visible when you show a property, [the
prospective buyer] will ask to see something else.” According to a white paper
prepared for the New York State Bar Association, home mortgage
lender Wells Fargo won’t make home loans for properties that have gas drilling
leases attached to them. Provident Funding, GMAC, FNCB, Fidelity, First
Liberty, First Place Bank, Solvay Bank, Tompkins Trust Co. and CFCU Community
Credit Union are putting hard-to-meet conditions on mortgages or denying loans
on properties with O&G leases. Federal mortgage institutions (FHA, Fannie
Mae, Freddie Mac) have prohibitions against lending on properties where
drilling is taking place or where hazardous materials are stored. A drilling
lease on a property financed through one of these agencies would result in a “technical
default.” Homeowners who think damage to property incurred by drilling
accidents is covered by insurance need to think again. Such damages are
typically not covered.
An article from Eco Watch about this subject:
If you want to really make a lasting change that is good for everyone you need to support Initiative 75 which gives local communities control over local laws. Initiative 75 - Right to Local Self Government - "As all political power is vested in and derived from the people, and as all government of right originates from the people, the people have an inherent and inalienable right to local self-government, including in each county, city, town, and other municipality." - http://www.cocrn.org/colorado-community-rights-amendment-2
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