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<br />. . <br /> <br />aeolian soils are among the finest to be found anywhere in the West. <br /> <br />By those who know nothing about irrigated agriculture, the <br /> <br />hypothetical benefit-cost ratio is said to be unfavorable. At the <br /> <br /> <br />time of project authorization in 1968, the total benefit-cost ratio <br /> <br /> <br />was computed at 2.03 to 1. using the new procedures developed by the <br /> <br /> <br />Water Resources Council, that benefit-cost ratio is now 1.3 to 1. still <br /> <br />a favorable ratio. The reason for this change is that costs have <br /> <br /> <br />increased by about 300 percent, but the computation of total benefits <br /> <br /> <br />has increased by only about 150 percent. This strange formula of <br /> <br /> <br />increasing one side of the equation without increasing the other side <br /> <br />is puzzling. However, I am sure that this formula is well understood <br /> <br />by learned economists, particularly those who are unable to distinguish <br /> <br />between an irrigated farm and the Washington Mall. <br /> <br />The fact remains that the Dolores project will contribute <br /> <br />to the local economy to the extent of about ten million dollars per <br /> <br />year. This is not an insignificant sum to the people of that area. <br /> <br />Mr. Sherman will dwell upon the environmental protection aspects of the <br /> <br />project. I will point out, however, that a staggering thirteen million <br /> <br />dollars of the project costs have been assigned to environmental pro- <br /> <br />tection and enhancement. This isa major part of the total of twenty- <br /> <br />five million dollars in costs assigned for these purposes to all three <br /> <br />projects. <br /> <br />For some twenty years, I have been intimately acquainted with <br /> <br />the Indian tribes of southwestern Colorado. In past years I was <br /> <br />-6- <br />