Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (675621)	3/17/2005 11:22:04 PM
From: DavesM	Read Replies (2) \| Respond to of 769670

re: "US oil executives promised Congress that 'all oil would be sold to the US'... A few years later when the pipeline was in, and oil shipping through Valdez terminal, and Congress found out that they had been LIED TO, and most of the oil was going to Japan [where the oil companies received a better price], Congress got pissed-off and passed that ban that you referred to above." "Since there is NO BAN with the new pipeline... and the economic conditions affecting North Slope oil are pretty much the same now, I expect a repeat: much of the ANWR oil will be sold in Asian markets. This time, it will be CHINA & Japan" O.K. I looked at the bill (SJR2), and it does not prohibit the export of oil from ANWR. But neither does the bill authorize or approve a new pipeline (in fact one of the objectives of the resolution mentions increasing the useful life of the Trans Alaskan pipeline as one of the goals of SJR2). This means that the oil is expected to be transported thru the Trans Alaskan pipeline. Once again, I believe the exportation of oil from that pipeline is prohibited (I believe that a bill has been submitted prohibiting exporting ANWR oil just to clarify things). I also found out, that in 1995, a law was passed allowing the export of oil from the Trans Alaskan pipeline (during the Clinton Administration), a small amount of oil was legally exported (less than 10%). So, I believe it was illegal to sell the oil from the Alaskan North Slope from 1973-1995, and from 2000 till now. Canadian synthetic oil (oil sands) are sent to Colorado, and can now be sent to the Chicago area - with expansion of Canadian pipelines planned. In much of 2004, Canada exported around 1.6 million barrels/day to the United States (and another 500,000 barrels/day in petroleum products)- mostly to the midwest.