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This is Chris Redgrave for Zions Bank Speaking on Business.
If we're talking Uintah Basin, we're talking Utah energy......And that leads to asking the following question — do you realize gas rates in Utah are the overall lowest in the nation...? Not to mention the reserve of natural gas in Utah is one of the largest in the world for its geographical area ... After 30 years in the business working for Basin Western, CEO Lloyd Dean is one of the foremost authorities on transportation for the energy industry in Utah...
Basin Western delivers over 40,000 loads of liquid bulk commodities every year. This Roosevelt business' commitment to their customers and the community is to provide the safest and most cost effective hazardous materials transportation possible.... They've developed a strong reputation for doing just that.
It all started in 1968 ... Then, in the early 80s, big changes came in the form of deregulation... In 1987, when the state of Utah deregulated, Basin Western became an independent company.....
Regulation is still a concern for this industry, especially in the last five years. The industry began feeling effects of regulation on federal lands in the Uintah Basin and reached a low point in 2010, which allowed the company to look elsewhere... That's when they expanded operations into Texas, North Dakota and Colorado....Today, Basin Western hauls crude oil from the Uintah Basin to refineries in Salt Lake City, along with other supplies...
There's opportunity here for expansion in the oil markets if there was someplace to take the oil — but with refineries in Salt Lake City at capacity and being further hampered by regulations, this makes expansion in the oil field difficult ....There's also the huge reserve of natural gas to consider, a commodity with huge potential for a cleaner energy future... Lloyd is bullish on this energy situation turning around within five years.
Basin Western has also developed their own software to run their company and now provides it for other companies as well. With Tanker Pro, Basin Western continues to grow, to expand and to lead well into the 21st century...
For Zions Bank, I'm Chris Redgrave, speaking on business.
Basin Western East Hwy 40 Roosevelt, UT 84066 1-888-722-5351 www.basinwestern.com
