Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: EL KABONG!!! who wrote (54666)	10/23/2004 2:44:47 AM
From: Snowshoe	Read Replies (2) of 74559

>>Almost always, the answer is to alleviate risk.<< Hi KJC, It will be interesting to see if any trusts are created for the North Slope gas development. The state of Alaska owns 12.5% of the gas, and the rest is owned by BP, COP, and XOM. These companies seem perfectly willing to have the state buy into the pipeline project as well. The governor will deliver a proposal to them by October 28, and they've promised to respond within one week. Then the legislature will take up the issue in January. I've read that it will take the entire world's steel production for a year to manufacture the needed pipe! The whole scheme rests on the idea that natural gas prices have reached a permanently higher level. But Congress failed to guarantee price supports, so I think the companies will be quite cautious about going forward with this until they are confident of the economics. -Snow

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