This segment is from Thursday's edition of 'Digging for Value', in which sector analysts Joel South and Taylor Muckerman discuss energy & materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays & Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.

Colorado isn't the first place to ban oil and natural gas fracking activities, but it could be the most painful if it goes statewide. Major oil and natural gas companies like Anadarko Petroleum (NYSE:APC), Chesapeake Energy (NYSE:CHK), Noble Energy (NYSE:NBL) and Whiting Petroleum (NYSE:WLL) have already poured significant capital into the Niobrara shale and would clearly hate to see that evaporate in the face of legislation. To date, three counties have banned it with a proposal for statewide ban being rumored. If this takes effect, our goal of energy independence could take a significant hit. For more data on these companies' involvement, tune in below.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.