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Show ,jCj;yW.t. kOUMBHiMM win i 5 Utah Economy Growing at a More Subdued Pace, But Remains Solid Local and National Economic Outlook Provided in Autumn 1999 Issue of Zions Banks Insight ' Zions Bank today released the Autumn 1999 issue of Insight -Economic News of Utah and the Nation. The quarterly publication, introduced in April of last year, features updates on current and projected economic and financial developments for the state of Utah, the Intermountain region, and the nation. Utah's economic growth has moderated during the past 18 months, but remains solid," said Jeff Thrcdgold. economic consultant to Zions Bank and author of Insight. Mitre signs of renewed global economic vitality suggest rising demand for Utah products in coming years. Given our expectation of continued solid U.S. economic performance. the Utah economy should continue to perform well in coming section of the Autumn 1999 issue years." Following arc a few highlights from the Utah Economic OutlixA" eraged Interested in Being a Child Care Provider? Are You interested in becoming a child care provider? Come to the Kamas Tow n I lall on Oct. 27, from p.ni. The Department of Health. Child Care Licensing in conjunction with Child Care Resource and Kel'ciral. Mountainland. wll be offering an orientation. Infoimation will be given on training and available resources. There will also be tree gilts and positive suppoit for potential child care 7-- 9 prov iders. Salt Lake Mortgage of Insight: The Utah economy has grown at a more subdued pace during 1918 and 1919. a departure from the pow- erful growth rate recorded during the majority of the 1990s. I .ess robust economic performance is now evidenced by the slowest pace of Utah job creation in 12 years. Ongoing developments around the globe - and especially in improving global economic vitality during the next few years. A stronger global economy is a key ingredient in supporting both the prices of and demand for Utah exAsia-sugge- st ports. The Utah economy is expected add 27.000 net new jobs during to calendar year 1999. a 2.6 percent rise. This increase compares to average job gains of 42.500 jobs annually during the 1993-199- 8 period. Utah's unemployment rate a low 3.3 percent during 1999s first eight months, as compared to 3.6 percent during the 1993-199- 8 period. Tight labor markets remain of major concern to Utah employers. The state's overall exports are likely to rise during the next two av- years in response to stronger global economic performance. Each of Utah's primary trading partners is full-servi- company operating in offices Arizona. banking Colorado, Idaho, California, Nevada, New Mexico. Utah and Washington. It also offers a comprehensive array of investment, mortgage, and insurance services and is a recognized leader in providing innovative financing solutions for small businesses nationw ide. To obtain a free copy of Insight, and to be added to the mailing list tc receive subsequent issues, free of charge, call (801 ) low-volu- tion. The United States is the only country that has significant stripper petroleum production. By extracting small amounts of gas and oil, stripper wells help conserve the nuiions energy reserves by ensuring the maximum amount of the resource is recovcied. Once a well is plugged, access to remaining reserves is often a well is not lost, because In Utah, programs administered by the Division of Oil, Gas and Cowboy WCKSROO Wasatch High School Ileber City, Utah November 12 Friday,FAIR OPENS S:00 p.m. Saturday, November 13 FAIR OPENS 10:00 Buckaroo Fair Cowboy Paett.Grea Mimic and Cowboy & $ i i i I i i ? i I f ! w ww.iogcc.st jtc.ok .us. 110 South Main Heber City, Utah 654-326- i 2 Back By Popular Demand n Fifth Annual Poetry Eeteerihg FSIR Mining are in place to prolong production. "These initiatives include a' program which monitors inactive wells to ensure they are maintained for future production," said John Baza. Associate Director for Oil and Gas. We also review applications for work over" tax credits which provide (iperators an incentive to increase or restore production, and we encourage enhanced, or secondary, recovery efforts to continue production in older fields." The IOCiC'C defines stripper oil and gas wells as those that produce less than 10 bbls of oil or 60,000 cubic feet of natural gas per day. The organization has documented the contribution of stripper wells for more than 50 years. The IOGCC represents the governors of 30 states and promotes the conservation and efficient recovery of domestic oil and gas natural resources. while protecting health, safety and the environment. Seven stjtcs are associate members of the organization, including Utah. In recent years, five international affiliates have been accepted into the group. For more information on the IOGCC', visit its Web site, counted for 1. 1 13,425 barrels of oil (bhls), while gas wells resulted in 4.373,542,000 cubic feet during the. year. Stripper wells nationwide produced more than 316 million bbls and generated more than 1 trillion cubic feet of natural gas in 1998. While the average daily production of all U. S. stripper wells was only 2.07 bbls and 15,600 cubic feet per well, collectively these wells comprise an important hedge against rising reliance on foreign oil. . Stripper wells represent about 27 percent of the oil and 8 percent of (he natural gas produced in the United States, excluding Alaska. Florida and federal offshore facilities, which have no stripper produc- mama 524-220- lEntcflToiWIn fH!22lRlfl8 WlthlStopg TIRE WARRANTY vw UNSURPASSED! Every tire purchased is covered by our "In House" NO HASSLE WARRANTY. If you find a better written tire warranty - we'll gladly service your car for FREE) a.m. Entertainment 4 Tires Grub, SO Cowboy Booth Friday, Nov. 12, Main Event 7:00 p.m. $200 Michael Martin Murphey Select Sizes Iro karoo MOf Dun . MISway Towa Hall hiiiy !! Saturday, Nov. 13, Main Event 7:00 p.m. fflP $300 4 Tires Select Sizes -- SAFETY INSPECTIONS from - Most Done While You Wait! BRAKE SERVICE Bar Jacktan J Wranglers Hole, Wyoming Buckaroo Fair: Adults $5.00 Children $3.00 Main Event: Under 6 Free All Scats $15.00 Dance; $3.00 Tickets available at Days Market Place 654-235- 2 Buckaroo Lodging: The Hornetlead Retort A Holiday Inn Exprett www.hebervalleycc.nrgcwbypoel.hliiil Statewide Resource t When Utah Power engineers Advisory Council The low-volu- I 054-47X- BLM's To Utah's production of oil and gas wcllx in 1998 acfrom counted for 189 jobs and $32 million in economic impact, a new report shows. Marginal Oil and Gas: Fuel for Economic Growth," compiled by the Interstate Oil and Gas Compact Commission (10CSCC), shows that stripper" - oil and gas wells contributed $9.3 billion to the y.s. economy last year despite a natural gas. weak market foroil-anNationwide, more than 18,000 stripper oil and gas wells were plugged, slashing total economic output by $309.2 million, reducing earnings by $41.2 million and eliminating 1,780 jobs. The oil and gas industry alone lost $19.8 million of earnings and 777 jobs. Utah plugged or abandoned 64 oil and gas stripper wells which resulted in an economic output loss of $1.54 million. The report notes that 13.912 stripper oil wells were plugged and abandoned in the U.S. in 1998, down from 15,037 in 1997. The number of domestic stripper gas wells plugged and abandoned also dropped, from 4.733 in 1997 to 4.235 in 1998. In Utah, stripper oil wells ac The (Bee! & Salt Lake Mortgage is pleased to announce a new website, specifi-call- ) designed for Wasatch County residents. The site, www.loritce-guarden.coprovides access to an glossary of mortgage terms, mortgage calculator, and an online application. Visitors can also get information about the staff of our ileber City office, including Lori leeguarden. Branch Manager; Jeremiah McCarthy, Loan Officer, and Shari McNamara. laian Officer. Salt Lake Mortgage is a full service mortgage broker founded in 1993. We arc proud to have served the residents of Wasatch and Summit Counties since 1997. For more information, please call Marginal Well Industry Generates $32 Million For Utah expected to record stable or improving economic growth during the next two years. Utah's economic development efforts w ill play a mine critical role in coming years as the current Utah construction boom winds down. The game of economic development is intensely competitive around the nation. The Policy Progressive Institute, a Washington, D.C. think tank, recently ranked Utah sixth in its measure of states apt to prosper in the new economy." Utah ranked third in work force education and fourth in the percent of people online (46 percent). Zions First National Bank is the of Zions subsidiary largest bank a holding Bancorporation, SuSscriSe Website (435) October 22, 1999 The Summit County Bee Page A8 Meet Bureau of Land Utah Statewide Management's Resource Advisory Council (RAC) will he meeting on Nov. in Salt Lake City. The purpose of this meeting is to provide the Council with an overview of the Resource Advisory Council in Utah, its past accomplishments and activities, some Utah specifics, and an overview of BLM 17-1- 8, programs in general. The meeting will be held at the Best Western Salt Lake ITaza Hotel, Aspen Rooms I and 2, 122 West South Temple. It is scheduled to begin at 9 a.m. on Nov. 17 and conclude at iHxvn on Nov. 18. A public comment period, where members of the public may address the Council, is scheduled for 4:15 p.m. on Nov. 17. All meetings of the BLMs Resource Advisory Council are open to the public. For more information, contact sherry Foot, Special Programs Coordinator, at (801) 539-419- f VJ7-- ' . W .V say, there has to be a better way, its not just talk. Dean Miller and Brad Williams were sure that they could come up with a quicker, more reliable way to pinpoint and resolve problems on power circuits. If there was an outage, this would help get the power back on to customers faster. The technology existed. It would just have to be applied tlx right way. Tom So IXan and Brad, along with their Eyfnrd, put their heads together and came up with a remote control pmcvss that combines the auto, jtion of power poletop swilclxs with computer operations at tlx substations. I lores how it works: the poletop switches send information back to tlx substation i computers. If the computer detects a pmblcin, it can automatically close a switch, and immediately remute power around tlx problem. Not only is the power back on faster, but line crews can also be dispatched more effectively to fix the trouble spol. The new control scheme was tested in Portland, which showed tliat outage times could lx redial'd drastically. The team knew their idea was a winner. t, tlx engineers In fact, the process is so were awarded a patent. The plan is to install the automated switches along with other reliability measures throughout the Utah Power service area, from big cities lo rural towns in tlx coming years. "This kind of innovation, along with otlxr new technologies like customer outage monitors and intelligent meters, improves our responsiveness and also help keep costs down, siidjim Walters, a Portland operations manager, who put the team's work into action. Dean Miller, Brad Williams anil Tom Eyfnrd. Three of the brightest bulbs in the box. state-of-the-ar- Brothers of invention. ki hh' .mv . You can reach us 24 just call hours a day, 7 days a week, V. UTAH POWER A PacifiCorp Company Making it happen. 5. POOR i |