external domestic and international events Wtien 

 interest rates remain unreasonably tiigh over a pro- 

 longed period, new tiousing starts drop seriously, and 

 the timber and lumber industries are stiut dow/n. 

 Whien there is a glut in the world oil supply, projects in 

 Western states take years to get underway, and some 

 of them come to a sudden halt Just ask Governor 

 Lamm about oil shale in Colorado these days 



Thus, our plenary sessions here are devoted to 

 examining selected of our most important, yet, depen- 

 dent economic sectors in the West. In chronological 

 order, we will analyze and discuss: 



1. Our agricultural economy — with an emphasis 

 on where we are and where we should be head- 

 ing over the rest of this decade to improve our 

 agricultural output, efficiency and economy; 



2. The national economy and budget situation, 

 including a full examination of the causes and 

 consequences of current policies and alternative 

 actions, particularly as they affect states; 



3. The housing economy, looking particularly to 

 possible policies which would serve to even out 

 the extreme highs and lows of this economic 

 sector; and, 



4. Our marine and coastal resources, with a view 

 on their strategic and economic importance to 

 the nation and to the West. 



In addition to these plenary sessions, and our work 

 program and policy setting meetings, we look forward 

 to hearing from the US Ambassador to Canada, the 

 Honorable Paul H. Robinson Jr at lunch today, and to 

 discussing with White House officials on Saturday 

 where things stand on the President's "New Federal- 

 ism" proposals 



We have a full agenda ahead and I think it's best 

 that we move directly into it. But first, as Governor 

 Atiyeh mentioned, I would personally like to welcome 

 Governor Pedro Tenorio, of the Commonwealth of the 

 Northern Mariana Islands, to his first meeting of the 

 Western Governors' Conference Second, I want to 

 request, in conformance with the rules, that any gover- 

 nor wishing to submit a resolution to the conference 

 please do so by 5:30 p m today Submit them to the 

 Western Governors' Conference staff or to the Resolu- 

 tions Committee Chairman, Governor Spellman of 

 Washington. 



It is now my pleasure to introduce Governor Lamm 

 of Colorado and Governor Schwinden of Montana who 

 will moderate our session on "Food in the West " 

 Governor Lamm . . . 



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