Forward thinking about “old” natural resources has brought innovation to the energy industry, and local businesses have played a large part in industry advancements, according to state economists. 

Energy was the main topic of discussion during the 40th annual Economic Outlook Seminar Friday in Kalispell. The University of Montana Bureau of Business and Economic Research presented its most recent economic statistics for the state and drew on national outlooks. 

The United States supplies nearly 84 percent of its own energy, solidifying its place as one of the world’s largest oil and gas producers. Keynote speaker Bill Whitsitt of Bigfork credits recent advances in technology for pushing the energy sector forward. 

“These resources, such as wind or solar, have always been available, but we couldn’t always economically produce energy through them,” said Whitsitt, the current executive-in-residence and visiting professor at the University of Montana School of Business Administration. “We found new ways of thinking about these old resources, and that’s a big part of innovation.” 

Whitsitt used Algae AquaCulture Technologies in Columbia Falls as an example. 

The greenhouse facility, founded in 2010, utilized the regenerative processes of algae to create electricity, biofuel, rich organic soil fertilizer and a year-round food harvest.  

The facility was partially destroyed in a fire in January, but according to Whitsitt, owners of the facility plan to rebuild the greenhouse better, with smarter technologies. 

“They learned so much because they approached something old with new thinking,” Whitsitt said. “And now, they’re going to continue to build on that and push it even further.” 

Flathead County is one of only 16 counties in Montana that had no energy production whatsoever in 2013. The majority of energy production is based in Eastern Montana counties. However, Flathead County continually contributes to the energy sector through innovation and new technologies.

Whitsitt also noted Vizn Energy, a Columbia Fall company that developed scalable storage batteries. The company will be able to help buildings that run on solar power stay operational at night or during cloud cover. 

Whitsitt cited better operations, more environmental awareness and progress with long-term goals in mind as key factors that will play into the current energy revolution. 

This energy revolution will present challenges, though. 

Eastern Montana needs additional infrastructure to accommodate the recent increase in population in and around the Bakken oil fields. 

It is also unknown how long the current low gas and oil prices will last, creating unpredictability for those employed in that industry. 

Whitsitt believes Montana is doing fine so far. 

“In Montana we are involved, and in some ways leading this revolution,” he said. “I’m convinced we are playing the right kind of part.” 

IN ADDITION to discussing the energy industry, the seminar focused on the economic outlook for the state and county as a whole. 

“As positive as the [economic] outlook may seem in the United States, the global outlook looks dim,” said Patrick Barkey, director of the Bureau of Business and Economic Research. “Economic growth has slowed down.” 

Global leaders such as Brazil, Russia, India and China, also known as the BRIC, had solid gross national product growth even while the U.S. was experiencing an economic downturn. 

In 2007, China had the largest growth, with over 14 percent growth from 2006 to 2007. However, by 2014, that growth had slowed to 7.6 percent. Brazil, Russia and India experienced similar slowdowns. 

Barkey was careful to say this was not a downturn in their economies, but instead represented a global stagnation in some of the “big manufacturing engines.”

The U.S. experienced slow but positive economic growth during that same time. In 2007, the U.S. saw only 1.8 percent growth, and in 2009 there was a 2.8 percent decrease in economic growth. However, in 2014, the U.S. recorded 2.2 percent growth. 

“How much longer can we have improved progress when the rest of the world is not?” Barkey asked. 

Montana has experienced the same positive growth seen across the U.S. Barkey reported that labor markets were getting tighter, visitor spending appears healthy, and slow, balanced growth is a statewide norm. 

Flathead County saw the second highest wage growth last year, behind Gallatin County.

Reporter Brianna Loper may be reached at 758-4441 or by email at [email protected].