Colorado: Oil shale weighing on government
Posted by adam.dada on May 12th, 2006
According to the Craig Daily Press, another oil shale boom is “weighing on officials” in the Northwest region.
Just as various commodity booms have had a major affect on local communities all through U.S. history, the recent oil shale booms of the 70s and 80s have seen towns spring up all over oil shale rich areas, only to leave them as partial ghost towns.
While the market can address the boom-and-bust concerns, governments aren’t so lucky. Bureaucracy and employment-political needs make it difficult to ever downsize government when it is not “needed.” With the oil shale availability now hitting the mainstream media, will the Colorado housing bubble be the first to super-skyrocket, especially in the areas previously left haunted by the last bust?