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Online Stock Market Trading A key senator threatened to cut funding for the Animas-La Plata dam in mid-construction if the federal agency building it can't contain costs.

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Stock Investing Course "I want to complete this project in a reasonable manner," Sen. Pete Domenici, R-N.M., said Wednesday. "But a reasonable manner doesn't mean these cost overruns - or else we'll stop this project in the middle."

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Stock Market Game Domenici has been one of the biggest backers of the ALP dam, which would tap the free-flowing Animas River near Durango. But he says his patience has been tested by a 50 percent surge in costs reported last summer.

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Stock Investing Game The price tag of the dam shot to $500 million from $338 million, the amount Congress approved in 2000.

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Journal Prime Rate Street Wall The Bureau of Reclamation, which is building the dam, has taken responsibility for the overruns, saying they arose from political turmoil, unforeseen expenses and no-bid contracts with Indian tribes that are to get water from the dam.

Stock Market News The cost overruns spurred Domenici, chairman of the Appropriations subcommittee that oversees water projects, to call a hearing Wednesday.

Stock Investing Basics Sen. Ben Nighthorse Campbell, R-Ignacio, the only other senator to attend the hearing, said cutting off funding to the dam would be counterproductive.

Stock Investing Software A key function of the dam is to settle water-rights claims by the Southern Ute and Ute Mountain Ute tribes. Campbell said that if the dam were canceled, the resulting legal fight would cost more than the dam itself.

Stock Market Trading "We're in a mess, but we can't just stop the thing," Campbell said at the hearing.

Stock Investing For Dummy Supporters plan to get the extra money by spreading the cost over a longer period of time. But Assistant Interior Secretary Bennett Raley said the delay could cost an additional $38 million.

Stock Market Crash Raley, a Colorado water lawyer when he was in private practice, now oversees the Bureau of Reclamation. He said at the hearing that the Bush administration has not ruled out trying to recoup some of the overruns from the water districts that will draw water from the dam.

Stock Investing Tip Domenici and Campbell, who represent those districts and their customers, oppose that. "We can't expect those who supported this project and approved it to pay for it," Domenici said. "I don't know how we're going to pay for it, but they can't afford to pay for it."

Stock Market Chart The dam has generated fierce opposition among environmentalists and Four Corners taxpayer groups, which were not invited to the hearing.

Online Stock Investing The Citizens Progressive Alliance submitted testimony saying that the bureau low-balled the price to get the project approved, then was allowed to investigate itself.

Stock Market Crash Of "We ask Congress to suspend funding for this project until an independent (Government Accounting Office) audit exposes the real public costs," wrote the alliance's chairman, Phil Doe.

Stock Investing For Beginner By Mike Soraghan
Denver Post - 3/15/2004

Topic: Rivers

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