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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Bearcatbob who wrote (176427)	2/8/2013 6:35:02 PM
From: upanddown	Read Replies (1) of 206121

Bob Yes, a huge jump in AK production in 1978 when the pipeline started up and then the ten year ramp up to 2 million but even with that, 1988 total domestic production was below 1977, the year before the AK Pipeline opened. AK production was more than offset by 2 million+ depletion elsewhere. This was a time of dramatic depletion rates and a dearth of new discoveries in this country. At the time, the thinking was that Alaska was a frozen Saudi Arabia with another dozen Prudhoes to be discovered. Never happened. Lots of smaller discoveries but no Prudhoes and the current pipeline utilization of about 25% of capacity shows it. The current numbers are net of depletion so we are showing real net increases rather than just running in place like the 80's. This new production is really helping the trade deficit. Today's headline that moved the market higher... The U.S. trade deficit fell almost 21% in December to $38.5 billion, marking the biggest drop in four years

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