Despite facing a $700 million budget shortfall, Colorado legislators are ready to impose new regulations on its profitable but political pariah, the oil and gas industry. Colorado Governor Ritter is blocking development of the U.S. Naval Oil Shale Reserve beneath the Roan Plateau, which could provide 9 trillion cubic feet of gas which lobbying group Americans for American Energy head Greg Schnacke says is enough to heat every home in Colorado for the next 25 years. Schnacke lays the blame on the Colorado's extreme environmentalist body. "The state now issues extensive air and storm water protection permits, has a say on wildlife restrictions and other rules that industry must follow. If state regulators and the extremist environmental groups who seek new avenues to sue the industry, make it harder, longer and more costly to proceed, Colorado taxpayers won’t see the projected one-time $1 billion lease bonus, not by a long shot." He adds that the regulations raise the energy prices for everyone by adding to financial woes. So what would it take to get this ball moving? I'm guessing $150 oil. Maybe. Of course, those who are the most opposed to oil and gas wouldn't mind us reverting back to dark ages of technology anyway, so maybe it's just part of their master plan. –Stephen Payne, Editor, Oil and Gas Investor This Week;