A Colorado energy lobbying group praised legislation it says protects the oil and gas sector, though mid-term plans may be moving toward renewables.

Colorado legislators moved in opposition to a measure that would have limited the oversight role of the Colorado Oil and Gas Conservation Commission. According to the Denver Business Journal, leaders in the state House of Representatives were concerned wording in the measure would have potentially allowed local governments to enact their own drilling restrictions.

Tracee Bentley, executive director of the Colorado Petroleum Council, said Colorado state laws on energy should serve as a model for broader U.S. legislation.

"Bypassing science and the statewide oversight of the Colorado Oil and Gas Conservation Commission with a patchwork of conflicting regulations is the wrong path," Bentley said in a statement.

In early December, the state Supreme Court heard arguments on whether state or local governments have the authority to restrict hydraulic fracturing, a controversial drilling practice known also as fracking. A lower court threw out restrictions imposed by five Colorado cities and challenged by the Colorado Oil and Gas Association.

Consultant group Wood Mackenzie in an analysis of the Colorado energy sector found between $750,000 and $1 million in potential tax revenue would be lost if fracking restrictions were enforced.

Colorado Gov. John Hickenlooper and industry leaders next week will be on hand for the release of a report on the state's wind energy capacity. According to the American Wind Energy Association, Colorado is building a strong labor sector on the back of an emerging renewable energy sector.

AWEA data show the state generates about 13 percent of its electricity from wind resources. The state is obligated to get 30 percent of its electricity from renewable energy resources by 2020.