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some comment. I want to say that there are people I represent, a company that I represent, has made the firm offer to acquire the assets and all of the assets of Rocky Mountain Power Company. In the event that that offer is accepted and the company that I repre- sent would stand willing at any time to discuss with representa- tives of the River District, Rio Blanco County, this board, or any- one else, the best way to utilize that water resource. The Meadows Reservoir itself is a reservoir site that was selected originally by the Bureau of Reclamation. It was filed on subse~ quently by the Rocky Mountain Power Company. It was filed on by the Colorado River District. The exploration of that stretch of the river was made thoroughly and it is by far the most economic reser- voir site in that stretch of the river for the storage of those waters. Now, if in fact, the predictions made in Mr. Sparks' memo- randum come true, and a one million barrel per day oil shale indus- try develops in the White River drainage, it is of course only logical that the water of the White River be used for the purpose of that industry and its supporting communities. There is no question about that. Now that makes a lot of sense. I think it would be a mistake to assume that such is going to happen. The first time that I read that such an industry was about to come into being was dated in 1929. I think the second one was in the 40's and the third one was in the 50's. I discussed it in 1960 with officials of the Treasury Department when I was representing the state of Colorado, because one of the economic difficulties posed by oil shale develop- ments is the depletion allowance, and I am not sure that can be resolved. Every time that it appeared imminent something has happened to change the situation and postpone that development. But if it does occur, and I would agree with Mr. Sparks that it looks at the' present time as though it is a very strong probability, and if the environmental considerations can be met, and if the economics are such, and if the world pictQre continues as it is presently, it probably will happen. There are those companies who have invested a great deal of money on the assumption that this development is not going to take place in the Piceance basin, but over in the Rifle area. Now that might happen. ~he point that I am making is that it is not at this point a certainty. If it occurs, the Meadows Reservoir should be built. That is the best place to provide a hold- over water supply for the South Fork of the White River. Whether it is built by the Colorado River Water Conservation District, or its contracting party, Humble Oil Company, that is a matter of the record. But it is not the River District's intention to build it by itself with its small mill levy. I personally feel it would be better if the thing would be built under circumstances that all of the competing parties, whoever the lessees might be, if the Secretary of the Interior does offer the leases and if Humble is one of those lessees. I think, of course, it should be one of those who would -4- I I