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.v", i~1 :1-". Ii Colorado River Compact Symposium James S. Lochhead Page 27 43 project Act, the Upper Basin realized its V1S10n of comprehensive basinwide storage development. principal storage units at Glen Canyon, Navajo, Flaming Gorge and Curecanti serve as the bank account of holdover storage that will allow the upper Basin to meet its delivery obligation at Lee's Ferry through significant dry periods. The operational equalization provisions of the 1968 Act implement Article III (e) of the compact, and protect upper Basin storage frO. unnecessary drawdowns at the demand of the Lower Basin. Although not all participating projects were developed, a significant number of projects were built in the upper Basin to provide for economic development. The CRSP power revenue fund has benefi~ed, and should continue to benefit, the upper Basin states. CONCLUSION - COLORADO IS WILLING TO STICK BY THE BARGAIN IT STRUCK IN 1922 Colorado had clear goals and principles going in to the Compact negotiations that guided the Colorado negotiators throughout the process, and were largely achieved. At this point in history, there is no compelling reason for Colorado to waiver from those goals and principles. Despite hydrological uncertainty, unanswered interpretive questions, an urbanizing population and increased environmental and recreational demands on the river, the Law of the River will continue to serve as a critical foundation upon which to solve the challenges of the future. This was the essence of the message recently delivered by representatives of Arizona, Colorado, Nevada, New Mexico, Utah and Wyoming, in a letter to representatives of California, concerning California's continued dependence .on the use of water in excess of its basic apportionment. The representatives of the six states offered to discuss with California agencies mechanisms to reduce that reliance, including interstate Lower Basin off-stream water banking, intrastate transfers and systems operations. However, the states also expressed their unequivocal expectation that California would live within its means under the Law of the River, when and at the time necessary to do so. From Colorado's perspective, the Colorado River Compact achieved its fundamental purposes. It provides a framework of certainty and security for Colorado's future that will allow ColoradO to continue to work actively and cooperatively with the other basin states and the federal 43 43 U.S.C.A 1501 et. seq. 44 4543 U.S.C.A 1552. 43 U.S.C.A. 620d.