Show OPINIONS ELSEWHERE New Revenue on Tap Top The possibility that the commercial production production pro pro- of oil from Colorado shale deposits deposit may start before long calls attention to the fact that this state in spite of ot its dire need for new revenues has has' not faced the severance severance sever severe ance tax Issue squarely A severance tax is a levy charged for removing or severing evering natural resources such as coal ore and oil from the soil solI or for tor removing forest forest products product About twenty twenty- five such taxes The only such levy Colorado has is a s small charge against coal production for the benefit of ot the state coal mine inspection fund The sudden development of the Rangely oil field as as' as a a. major producer caused the thelast thelast thelast last of t the legislature to consider a severance tax but buLno no serious attempt to pass It was made I If IT the legislature had acted a tax comparable to that in effect in Oklahoma and nCi cert certain ln other states would have have added from half a million to a million dollars to the state treasury from oil alon alone in 1917 Such uch an amount ot couse would not solve the states state's financial troubles trouble but it would bolster the treasury substantially at ata ata a a. time wh when n expenditures are running far ahead of ot income No one can even guess at t this time how much Colorado may produce annually from I its shale deposits when the development of that industry hits its stride The amount certainly will run into millions of ot barrels however The e state certainly is entitled to some I revenue from the exploitation of ot its shale resources resource It is not too early to dev devote te serious seri Bert ous oua thought to the severance tax issue in all its ita phases phase Denver Denver enver Post |