Monday, December 31, 2007

Roan Money Being Allocated

The Denver Post is endorsing the Republican plan for setting aside the money from the Roan Plateau gas development for a higher education trust fund.

That's still a lot of money and it's vital to spend it wisely. Part of the cash will, as it should, go to local governments to deal with some of the costs of supporting the energy development. The best plan, so far, for spending the rest of this windfall, as well as some of the $100 million a year or more that eventual production royalties could yield for Colorado for the next 20 or 30 years, was offered by two Western Slope legislators, state Sen. Josh Penry, R-Grand Junction, and Rep. Al White, R-Winter Park.

We suspect that doing this will require a Constitutional amendment, something that should have happened when the Social Security "Trust" Fund was set up on the Federal level. It immediately became a source of funds for decades of Congressional boondoggles. The same thing will happen here if the hinges and hasp on the lock box aren't welded shut.

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