South Metro Denver Chamber – Real Estate IMPACT Breakfast 2015

Loveland Chamber of Commerce Opposes Proposed Hydraulic Fracturing Moratorium Unanimous board of directors and Local Legislative Affairs Committee votes backed by facts and history of success and safety in region Loveland, Colo. – May 13, 2014 – On May 8, the Loveland Chamber of Commerce board of directors and the chamber’s Local Legislative Affairs Committee unanimously moved to oppose Loveland’s proposed hydraulic fracturing moratorium. The chamber conducted lengthy research, reviewed detailed studies on the topic, and invited proponents from both sides of the issues to present before reaching its decision. This ballot measure does not take into account the factual historic data and solid safeguards that continue to be in place for responsible energy development, including the city of Loveland’s thorough Oil & Gas Regulations, and would have drastic impacts on Loveland and northern Colorado economies. The ballot risks hundreds of jobs and thousands of dollars in economic activity for Loveland. “While energy bans would greatly impact our state, the chamber is most concerned about the repercussions of this initiative directly to the city of Loveland and the businesses that reside within our community,” said Loveland Chamber CEO Mindy McCloughan. “Voters, residents and businesses in Loveland must educate themselves on the implications of this moratorium. We ask that voters look at the research and consider the facts about hydraulic fracturing before mailing in a ballot. We encourage everyone to join us and vote no on the moratorium.” The chamber supports responsible oil and natural gas development, which is how Loveland has historically managed its hydraulic fracturing processes. The city has spent valuable time and resources to develop and adopt proper regulations which address many measures and facts being taken for responsible energy development including: • The safety concerns of hydraulic fracturing • The fact that the proposed drilling sites are not in the heart of our community but are located on the outskirts of Loveland’s city limits • The economic impact that an energy ban would have on the Loveland and northern Colorado economy The chamber has also signed with Vital for Colorado to support responsible oil and natural gas development and follows its seven principles: 1. The oil and gas industry is a key driver of Colorado’s economy. In 2012, the industry supported more than 111,000 Colorado jobs, more than $29 billion in economic activity and almost $1.6 billion in public revenue. 2. Colorado is a recognized national leader in energy regulation. We have the most comprehensive and stringent environmental rules in the nation, including rules that require disclosure and ensure the safety and transparency of hydraulic fracturing. 3. Hydraulic fracturing has been safely used in Colorado for more than 60 years and more than 90 percent of all wells today are fracked. Hydraulic fracturing is a transformational technology, opening up more than 100-years supply of domestic natural gas. 4. Policymakers and the public should rely on science, facts and data to guide discussion, not scare tactics and hyperbole. 5. Development of natural gas is indispensable to the continued expansion of wind, solar and other renewable forms of energy in the state. Because the wind doesn’t always blow and the sun doesn’t always shine, natural gas is an integral backup energy source – a cornerstone of Colorado’s “all of the above” energy policy. 6. Colorado should continue to regulate oil and gas development in a comprehensive, statewide manner, rather than a patchwork quilt of inconsistent regulations. A comprehensive and consistent approach to oil and gas development is the best and only way to ensure that Colorado protects our natural environment while remaining an inviting place for current and future energy investment. 7. We oppose attempts to politicize energy regulation, enact wholesale energy bans or create regulatory chaos by repealing Colorado’s traditional statewide approach to energy regulation. “Loveland has a history – backed by research and facts – of performing hydraulic fracturing safely. Towns and cities all across the northern Front Range are tapping into their own natural energy resources and Loveland is fortunate to have natural resources that can help supply the energy Colorado needs to thrive,” said McCloughan. About the Loveland Chamber of Commerce Founded in 1902, the Loveland Chamber of Commerce is Northern Colorado's "driving force for business." Comprised of more than 700 local companies, the chamber offers a vast array of educational and networking programs to help its investors, both large and small, gain the skills and resources necessary to thrive and prosper in today's economy. As a founding member of the Northern Colorado Legislative Alliance (NCLA), the chamber also serves as an advocate for business, working on behalf of entrepreneurs to lead and influence local, state and federal policy on issues affecting the unique interests of business in Northern Colorado. For more information on the Loveland Chamber, please call (970) 667-6311 or visit www.loveland.org. For media inquiries, please contact: Nicole Yost | Fyn PR for the Loveland Chamber of Commerce Nicole@fynpr.com | (970) 682-2420 ###