This morning's rate cut by the Fed says that the world banking crisis is far from over. With another stock market crash yesterday, and rate cutting today, they are definitely running scared. Seems like it wasn't very long ago that they were more worried about inflation than recession / depression. Such volatility can't be good for anyone. Speaking of which, it is fascinating by how oil prices could shoot up to such heights, and come back down again so fast, without gasoline prices following suit (although in fairness, we are at $3.30 / gallon here, not great, but not awful). This year will be etched into a lot of people's memories, both for the presidential election, as well as the energy, housing and banking catastrophes.

To add insult to injury, Colorado Springs Utilities is now proposing a rate increase estimated at 23%. This is allegedly because of higher natural gas and coal prices, as well as to cover lost revenue that they had planned on with new customers that never came on line, due to the lack of new homes being built. We currently have some of the lowest utility costs in the country, it will be interesting to see if we keep that position, you'd think other utility providers would have similar problems.

Today's photos are from the Maroon Bells again. The park is surrounded by jagged peaks, some of which are almost as interesting as the actual bells.

There has been a lot of talk about energy going around these days, locally as well nationally. Colorado Springs rates very high on many national surveys, but we are not the "greenest". There is so much land east of here to dump our waste, that recycling has never really taken off here. In addition, our proximity to the Wyoming coal fields and great rail access has made coal the fuel of choice for producing electricity. And the city is so spread out, with employment centers not being clustered very well, that mass transit is really used mostly by people who don't have cars (with a few exceptions), leaving everyone else in a "one person, one car" commute. Ironically, our historical utility costs are some of the lowest in the country, and our air among the cleanest, so we must be doing something right. There is good opportunity to develop wind energy east of here, and I suspect that wind will be the way the city comes into compliance with the state guidelines of having 10% of our power coming from renewable energy sources by 2020. Also, many of our homes are newer, and the new ones being built are mostly Energy Star rated, so we don't have a lot of homes leaking mass amounts of heat. In addition, our climate makes it easy not to run the furnace or the AC for much of the year, so in that regard, we are naturally blessed with a fairly energy efficient setting. Now if we could just fix all those huge pickup trucks and SUV's we tend to drive to get better mileage..... :-)
Sometimes having a few photos to share is reason enough to write. This was taken last Saturday near Cripple Creek, and you can there is still plenty of green, indicating it was really just the beginning of the color season. There are large stands of aspen with no trace of yellow yet.