There is a population of 30 bacteria in a colony. If the number of bacteria doubles every 500 hours, what will the population be 1,000 hours from now?

Since the number of bacteria doubles every 500 hours, after 500 hours, there will be 30 * 2 = <<30*2=60>>60 bacteria in the colony.

After 1,000 hours, which is 500 * 2, the number of bacteria will double to 60 * 2 = <<60*2=120>>120 bacteria. Answer: \boxed{120}.