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The trial of Intrepid Potash’s rights on the Pecos River in southeast New Mexico concluded as the company argued it had maintained its water rights for decades despite not using the water, while opponents contended the rights were abandoned and Intrepid had no claim to the river.
The case centered around Intrepid’s claim that it had water rights to about 19,000 acre feet of Pecos River water for consumption and that state regulators had upheld Intrepid’s rights even after it ceased using the water to refine potash upon the closure of the Loving Refinery in the 1970s.
The company argued it had closed the refinery as water quantity and quality were inadequate for operations during drought conditions and shifted to using the Caprock Aquifer in Lea County, but that the Office of the State Engineer granted numerous time extensions to allow Intrepid to keep the rights without using the water.
they added 216. 216? that s the number. maybe that s the dow jones expectations. of course, the big question is how accurate the adp is in predicting friday. two other things of note. at 8:30 a.m. the labor department is going to be releasing the production activity and labor costs and this afternoon the feds are going to are reporting on consumer credit for the month of january. there s going to be a loet to chew on. that was a major market story in greece. athens continues to be threatened for default on any of its bondholders who don t take part in the euro debt restructuring. it turns up the heat ahead of the key deadline tomorrow when the debt swap offer closes tomorrow at 3:00 p.m. and our correspondent michelle caruso cabrera is in grease. she ll be reporting from athens all day tomorrow and friday. was just saying when was it, we had that last selloff in the markets and it was coinciding with the double dip we were talking about. every week we had three or 4