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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (21014)	8/10/2007 3:00:08 PM
From: elmatador	Read Replies (1) \| Respond to of 219836

"This crisis is not going to last long. If it does, we have quite a few bullets in the magazine to fight it." Mantega Brazilian Finance Minister.

To: Elroy Jetson who wrote (21014)	8/13/2007 8:29:12 AM
From: Snowshoe	Respond to of 219836

>>This is exactly what the Bush administration tried to do to Chevron. They tried to take Chevron's California-Offshore leases for failure to develop them, while at the same time Federal policy prohibited Chevron from proceeding with their development.<< In this case there is no government policy that prohibits the Point Thomson leases from being developed. But the the field has much more gas than oil, and Exxon claims that its not economical to develop the field until a gas pipeline is built to the lower 48 states. Since the pipeline is estimated to cost $30 billion, it's having trouble getting off the ground. XOM/BP/COP want to own and control the pipeline, but the negotiations went nowhere. Our new governor is much more receptive to having a third party own the pipeline. MidAmerican Energy Holdings Co. is one widely-mentioned third party that seems very interested in the deal. It's owned by Warren Buffet, so I will be interested to see how he fares against the big oil guys.