The recent anti-fracking effort in Colorado has failed, reports CNBC.
Fracking opponents in the state had been rallying to get two measures onto the ballot that would further regulate the controversial energy extraction process. On Monday word came that both initiatives failed to make the ballot.
In response to the news, Colorado-related oil and gas stocks like Synergy Resources and Bill Barrett Corp gained over four percent in trading. Colorado Secretary of State Wayne Williams said the initiatives failed to make the November ballot because supporters didn't collect enough valid voter signatures.
Initiative 75 would have given local governments like small towns the authority to banning or limit fracking. Initiative 78 required fracking to be located more than 2,500 feet away from “areas of special concern" like playgrounds and lakes.