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Simon LomaxSimon LomaxAugust 23, 201811min819

Investors: Don’t buy what political activists are trying to sell you in Colorado. I’m surprised this reminder is even necessary, given how anti-oil and gas ballot measures collapsed in 2014 and 2016. But according to the Denver Business Journal, this month’s signature submittal for anti-oil and gas Initiative 97 “rattled some investors,” with a $3 billion drop in the combined market value of some of Colorado’s largest energy companies observed in the days afterward.