BP, ConocoPhillips join hands to build $30 billion Alaskan gas pipeline
“The Alaska gas pipeline will be an historic project and we are pleased to be working with ConocoPhillips to move it forward.”
BP and ConocoPhillips announced today that they have combined resources to start work on Denali, the Alaska gas pipeline. via Domain-B
Join the discussion below, or Read more at Domain-B.
#1 Apr 17, 2008
Our oil industry is made up of hundreds of thousands of fine folks that work their hardest to produce energy to satisfy the worlds ever growing appetite. There is no evil empire. We now live in a world market. U.S. oil has access to about 8% of the reserves in this world. The U.S. is not the center of the universe. How can anyone think that little U.S. oil controls the price of crude when governments of other countries control 92% of the reserves. The most powerful oil industry is that of the Arabs, Russians, Chavez, and soon Brazil. Europe, and China is competing with us for the same oil as well as India which are giant consumer nations. Yes the entire oil industry is making lots of money and U.S. companies are spending it to develop more production like a 30 billion dollar pipeline. The only logical tool at our disposal is innovative conservation which reduces demand of a limited supply and keeps the money in our pocket. Of course the Arabs will pull back production if the consumption falls dramatically but its our only tool. Windfall profits tax just takes money out of the the common mans pocket by reducing oil industry investment in future energy production therefore putting more power in the hands of the foreign oil industry. It also hurts all the retirement funds that are invested in the oil industry stocks, and reduces the number of very good jobs that the oil industry provides here in the US and around the globe. We all like to point fingers and make someone else the villain, but we really need to make the decision to conserve as much as possible. Best regards.
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