years has pressed me to disclose our backlog of construction work, but no one has ever put to me the more significant question about the size of our backlog of undelivered contracts for ore or coal where existing profit margins are protected by escalation clauses. In the last four years our forward sales of minerals for future delivery under firm long-term contracts has increased from $125, 000, 000 to more than $300, 000, 000 and this, Ladies and gentlemen, is solid and substantial progress and is a real measure of our accomplishments in the past four years. Years ago we anticipated the great surge in the demand for energy, and in the interim we think that Utah has achieved a unique and advantageous position in regard to the electric power industry in the West. Our Navajo mine can fuel as much as 4 million kilowatts of generating capacity for 35 years up to 16 million tons of coal annually, and our Craig, Colorado reserves are sufficient for another 1 million to 2 million kilowatts for the same period, equivalent to from 4 to 8 million tons of coal per year. Our uranium reserves remaining after 1970 will be of considerable magnitude. And we have the demonstrated ability to mine, deliver and process, where necessary, both coal and uranium. It may very well be that in the near term coal will be the fuel preferred for reasons of economy, with uranium to follow. But whatever the program, we believe that Utah will have abundant opportunity to participate in it. Not susceptible to precise measurement is the progress that we -15-