Mesa County to solicit input on Energy Plan

Mesa County will host a public forum on January 22nd at the Old County Courthouse (544
Rood Ave.) from 6:30 - 8:00PM. The Energy Master Plan will give a comprehensive look
at what kind of energy development will likely occur in our area, and what effects it will
have on our local community, our economy and our environment.

What the New Oil and Gas Rules Mean for Us

Well nobody knows for sure how these rules are going to effect us in Western Colorado. I think the national economy will play a part in our future, as well. The oil and gas companies are cutting back, but not pulling out at this time. Homes are still projected to appreciate, just not as fast as we have been used to. So basically things are looking to slow down for a little while, but this isn't necessarily a bad thing.

Long-term numbers tell a different story

Second-largest gas producer to run half as many rigs locally

Rent expected to plateau as vacancy rate eases slightly

The New Oil and Gas Rules Came Out On Thursday

Well, the new rules are out and they were followed by announcements from the local companies that they were scaling back their operations over this coming year. On the flip side, the oil and gas companies are taking this to the State Legislature in the beginning of next year. Also, from what I've been hearing this means no more guaranteed overtime for some of their employees. I have included a link to the new rules and regulations if you want to read them, they are 85 pages long.

New Rules for the Oil and Gas Industry, effective 4/1/09

Local Newspaper article on new rules and regulations

Local Newspaper Article - Energy Fight goes to Legislature

The New Oil and Gas Rules Are Expected Out Next Week

I've been waiting for the New Rules to finally come out and according to our local newspaper they should be out next week. It will definitely be interesting to see what the new rules are and how they affect the Oil and Gas Industry in Western Colorado. I have included a link to the article below.

Daily Sentinel-New Oil and Gas Rules

Not a Bad Time to be Living in Western Colorado

The following is an article from the local paper and it states that here in Western Colorado we are living in a buffer zone, compared to other areas of Colorado and the United States. Thanks to the Oil and Gas Industry for helping us through this. Unfortunatetly, the article only has statistics and figures from the first four months of this year. I would say that not much has changed, but it would be nice to see the statistics and figures through August. Also, we are supposed to hear very soon the results of the Oil and Gas Commission and the new rules to be proposed. They are still trying to decide on some key issues for the Western Slope.

Daily Sentinel Article - Western Slope economic vital signs stable, report says

Oil and Gas Commissions Website - COGCC

Associated Press Named Grand Junction in the Top Ten for Personal Income Growth

They were quick to point out that the oil boom was the reason behind the growth in 6 of the 10 cities. I don't think any one who lives here will be surprised to find out we were one of the six cities mentioned. That is good news for our local economy and our Real Estate market.

GJ named in top 10 metro areas for personal income growth - Associated Press Article

Colorado Oil and Gas Conservation Commission Hearings

Today the Gas and Oil Conservation Commission was in town for a public hearing on recent recommendations for a number of possible energy regulations. This was a big thing for our community and one of the industries that supports it and our livelyhhoods. I attended for a little while, I got there about 8:45 am and it was standing room only. To call it standing room is really a misnomer, as I was barely able to walk in the door and I couldn't see who was speaking. Although, I was told that it was Josh Penry, our senator, and he gave a speech in support of the gas and oil industry. In which, he warned of the repercussions to the economy, of the western slope of Colorado, if the regulations were too stringent and caused these oil and gas companies to leave the area. As we were walking in, they handed us sticker to wear that said "Gas and Oil Feed My Family" In comparison, as we(a couple of other Realtors) were leaving we saw a tent with food. Never ones to miss an opportunity, we headed over to partake and refill our coffee mugs. The gentlemen there asked what side we were there to support. I told him I supported coffee. He seemed to appreciate that. He then told us that if we were going to drink his coffee we needed to wear one of his stickers that said "Clean Air, Clean Water, Clean Environment" and "I Support Wildlife". It was fairly obvious, after talking to him, that he wasn't from the area. I would have liked to hear more from the speakers, but it was hard to hear and the idea of standing there for hours wasn't appealing. The commission’s final energy regulations are expected out in July and I for one will be very interested in what they decide.

If you would like to learn out more or hear the public comments that took place today you can click on the following links:

Colorado Oil and Gas Conservation Commission Website with audio -
http://oil-gas.state.co.us/RuleMaking/COGCC-Audio.cfm

Excerpt from Local Newspaper -
http://www.gjsentinel.com/blogs/content/shared-gen/blogs/communities/breaking/entries/2008/06/10/commissioners_thankful_for_pub.html

Excerpt from Local Newspaper-
http://www.gjsentinel.com/blogs/content/shared-gen/blogs/communities/breaking/entries/2008/06/10/thousands_pack_convention_cent.html

Summary of Josh Penry's Speech -
http://www.gjsentinel.com/blogs/content/shared-gen/blogs/communities/breaking/entries/2008/06/10/lawmaker_invokes_black_sunday.html