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Beneath the surface: Hard times, high hopes meet in Uintah Basin
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Now, we've got so many new hotels coming in, it will be interesting to see how many can remain. It will be another 18 months or so before the Dinosaur Monument visitor center opens. So, times will probably be hard for a while.
It is just too expensive to drill here and natural gas is so cheap that it doesn't make sense to go after those leases. But that could change someday. I just don't expect it to do so for a while.
Come see for yourself. There are some good hotel rooms available and places to eat and play.
I'm amazed at all of the new motels in town - who would think we need two Motel 6s? It will be interesting to see if how many of these motels are out of business within a year, maybe two. The new visitor center at the Dinosaur monument needs to open as soon as possible, to give us some respite.
The city failed Vernal--they let the state take the revenue and did not go after the oil and natural gas companies for more support for the town. The city used revenue from oil leases to fund the rec center--why not put that money into infrastructure and schools, and go after one of the companies for a couple million to build the center (that's chump change for what they were pulling in).
Vernal is an example of America failing greatly--skyrocketing house costs, poorly planned infrastructure to handle a boom that big (one road that goes through the town).
We will recover from this, with our collective heads held high.
Now, a recent national headline states that there is no floor to natural gas prices, it just hit it's lowest in 7 years. The reason is simple economics, supply and demand. All of the supplies are full and overflowing and demand decreases.
Why would any area continue to want to pursue this type of business as their mainstay? Maybe it's because uneducated roughnecks could get 6 figure incomes. Well, as time will show, that was too good to be true. There are new educational opportunities available to those in the basin, if they will just realize that it is better for their future than fighting to survive in the gas/oil field.
As far as supply and demand it is full agreed but we sit on the largest natural gas reserve in the world yet we go to other countries to use theirs.
As far as uneducated roughnecks. Most of these jobs are complicated and take a good mind. Just because they don't have a degree to hang on their wall says nothing. To our way of thinking why not make six figures when you can because you are able to. These people are salt of the earth hard working men and women they work hard everyday. That is what are country is founded on hard work. They don't want to sit behind a desk and push a pencil, they are proud of what they do. So take your "education" and shove it up your ahem. Young adults come here in the summer to work and pay their way through college that makes me want to honk.
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