Posts tagged economy
Spring progress at Washington Village Boulder
Apr 20th
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City of Boulder Colorado, State of the city 2011 Mayor Susan Osborne & CM Jane Brautigam TV special
Feb 24th
Jan. 27, 2011 – State of the City of Boulder Colorado emphasizes sustainability, economy and opportunities in 2011
City Manager Jane S. Brautigam and Mayor Susan Osborne delivered the State of the City in the Library Theater this morning, outlining the highlights of a year that included two major wildfires, award-winning construction and improvement projects, a commitment by voters to continue funding valued city services and a decision to explore supply-side energy options.
Both Brautigam and Osborne spoke of challenges, difficult decisions and collaborative leadership in the face of recent wildfires and a still uncertain economic future.
Speaking of the devastating Fourmile Canyon Fire, Brautigam said, “Firefighters from around the nation set up operations at the new regional fire training center. More than 1,100 firefighters responded, including 70 city firefighters. A significant amount of city resources were used to protect Boulder County and city residents. During the Fourmile Canyon Fire, city staff supported around-the-clock emergency operations and services to the community. While 169 homes were destroyed, not a single life was lost in any of last year’s fires.”
The mayor emphasized partnerships that formed in 2010 with local government, the business and technology communities and residents. Collaborations, such as the bid to bring Google ultra high speed Internet to the city, and a spirit of shared innovation helped Boulder stand out, both at home and abroad.
“Our international reputation as an innovator continues to make Boulder a destination city and enhance our economic sustainability,” Osborne said.
Standing in front of a backdrop of video and photographs from the year past, the city manager told the audience that Boulder was able to maintain a flat budget for 2011 but must continue to “be prudent in how we manage resources.” The city will continue to look for ways to close a gap between expenditures and revenues to maintain long-term sustainability.
Both speakers looked ahead to 2011 with optimism, particularly about the community’s commitment to charting an energy future that draws more power from renewable sources, promotes local decision-making, stabilizes rates for consumers and puts customer service and reliability in the forefront.
“We heard the community’s desire to lead by example, and to more fully explore Boulder’s energy options before entering into another long-term franchise agreement,” Brautigam said.
The mayor thanked voters for their support.
“We asked voters to approve a replacement tax on Xcel for five years to provide the time needed to analyze, discuss and make decisions as a community about our energy future. This may ultimately mean a renewed partnership with Xcel to meet our community goals, municipalization to provide our community with more direct control over its energy decisions and investments, or possibly a different option that we have yet to develop. . . . It was a tremendous vote of confidence from this community, and we are grateful for the overwhelming support that was shown for the Utility Occupation Tax. Without your support, the city would have eliminated 50 positions this year and significantly reduced city services and programs,” she said.
Gas Prices set to go up 40 cents in few days $5.00 by Memorial Day
Feb 24th
Kurt Nimmo
February 24, 2011
Earlier this week, market analysts warned that the price of gas may reach $5 by the end of summer. Now they are saying we could see that price by Memorial Day as the situation in Libya deteriorates.
On the S&P 500 today, the price of Brent Crude breached $119 a barrel during a period of frantic trading. Brent Crude is used to price two thirds of the world’s internationally traded crude oil supplies. The price was below $100 yesterday afternoon.
The world’s oil benchmark jumped almost $17 this week and it appears there is no end in sight as the situation in the Middle East heats up.
Saudi Arabia is under pressure to boost output as the prospect of a Libya production cutoff looms.
Oil traders said Saudi talks with Europe signal that the oil kingdom understands that the political crisis in Libya is now an oil supply crisis.
On Thursday, the Italian oil company Eni, the most active company in Libya, said oil production from the North African country has dropped to just a quarter of normal levels.
“You can only expect the price to go up. It is fear of the unknown. The risks are all to the upside,” a senior oil trader told the Financial Times. “Saudi Arabia needs to respond.”
Popular uprisings spanning the Middle East have yet to seriously affect Saudi Arabia. In an effort to stave off rebellion, earlier in the week Saudi Arabia’s ailing King Abdullah promised to lavish around $37 billion on his subjects. The money will go for housing, education, social security, and other benefits.
In neighboring Bahrain, a similar pay-out scheme failed to stem protests that turned violent. King Hamad had offered to pay $2,650 to every Bahraini family. The protests calling for political change have seriously damaged the small nation’s economy and tourism industry. Standard and Poor’s lowered its credit rating this week and Bahraini authorities canceled next month’s Bahrain Grand Prix Formula One race, the pride of the royal family.
According to Saudi rights activist Hassan al-Mustafa, Abdullah’s spending won’t solve anything. The Saudi people want “real change,” such as an elected parliament and more rights for women. That sort of evolution “will be the only guarantee of security of the kingdom,” explained al-Mustafa.
Hundreds of people have backed a Facebook campaign for a Saudi “day of rage” in March in response to the lack of political change in the kingdom and it solidarity with other popular rebellions sweeping the region.
In response to the unprecedented rise in oil prices, analysts are predicting the price of gasoline will shoot up ten to fifteen cents per gallon over the next few days.
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Analytics economist Chris Lafakis put the number even higher. Oil prices have already jumped $12 this week, which means that drivers can “expect gas prices to be 37 cents higher” in the coming days, he told CNN.
The national average price of a gallon of gasoline rose 3.4 cents overnight to $3.228, according to AAA.