Alaska ANWR Leases Have a Buyer!

[Glitch]

AIDEA board votes to bid on ANWR Coastal Plain leases

With environmental groups threatening companies that may have sought to bid on leases in the Arctic National Wildlife Refuge, Alaska’s own economic development corporation has decided to make sure those leases get buyers.

The board of the Alaska Industrial Development and Export Authority on Wednesday unanimously voted to allow the agency to bid up to $20 million on leases in the 1002 Area of the Coastal Plain of ANWR. The agency could then partner with a company to do the actual development work.

...

At least Alaska's future is assured.

 

[trblmkr]

All funding for the roads, for the pipelines, for all infrastructure, must be privately funded and maintained. No public funds. The melting permafrost is going to be a major setback for this venture.

 

[Glitch]

All funding for the roads, for the pipelines, for all infrastructure, must be privately funded and maintained. No public funds. The melting permafrost is going to be a major setback for this venture.

Already done. The oil industry in Alaska have been building roads across the north slope of Alaska since 1977. The melting permafrost is not an issue on the north slope. It is primarily the interior where the permafrost is melting. Steps have already been taken to prevent the permafrost from melting as the oil is being transported. The supports that hold the pipeline above the permafrost actually freezes the ground to ensure it remains frozen solid.

It is also only 90 miles from Pump Station #1 at Prudhoe Bay to the 1002 Area in ANWR.

 

[Antiwar]

At least Alaska's future is assured.

What "future" is assured?

 

[Glitch]

What "future" is assured?

The future of the trans-Alaska pipeline, for one.

There is currently less than half a million barrels of oil per day traveling the 850 miles to Valdez from Prudhoe Bay. When the flow drops below about one seventh capacity (~300,000 barrels per day), then the maintenance costs start to exceed the profit and the pipeline will be shut down. Opening up the 1002 Area in ANWR will add at least another decade to the life of the pipeline.

 

[Antiwar]

The future of the trans-Alaska pipeline, for one.

There is currently less than half a million barrels of oil per day traveling the 850 miles to Valdez from Prudhoe Bay. When the flow drops below about one seventh capacity (~300,000 barrels per day), then the maintenance costs start to exceed the profit and the pipeline will be shut down. Opening up the 1002 Area in ANWR will add at least another decade to the life of the pipeline.

It seems short-sighted in several ways.

Jeremy Rifkin says there's going to be a lot of stranded fossil fuel assets.

 

[Glitch]

It seems short-sighted in several ways.

Jeremy Rifkin says there's going to be a lot of stranded fossil fuel assets.

Short-sighted how?

The trans-Alaska pipeline has been in continuous operation for 43 years, pumping more than 20 billion barrels of oil during that period. However, it reached peak throughput in 1989 and has been declining ever since. Opening ANWR is important because it will add new life to the pipeline, and since Alaska is a resource State, it will by extension add new revenue to Alaska's coffers.

Naturally, our State government, like all governments, will find a way to spend the extra revenue, and more. So I don't really count that as a benefit. However, the oil industry is responsible for ~10% of the better paying jobs in Alaska, and I do count that as a benefit.

As for there being "a lot of stranded fossil fuel assets," when the pipeline was originally built in 1977 both Congress and the State of Alaska made BP, Exxon, Shell, and all the other owners set aside $20 billion for the removal of the pipeline and all of its assets when it is eventually shut down. Those funds have been sitting in escrow, and growing, for the last 43 years.

 

[Antiwar]

Short-sighted how?

Environmental damage is the top issue.

The trans-Alaska pipeline has been in continuous operation for 43 years, pumping more than 20 billion barrels of oil during that period. However, it reached peak throughput in 1989 and has been declining ever since.

That's because oil is getting harder and harder to extract. We're probably past the point of "relatively easily extracted" oil: also known as 'peak oil.'

Opening ANWR is important because it will add new life to the pipeline, and since Alaska is a resource State, it will by extension add new revenue to Alaska's coffers.

So you're not anti-government in this situation?

Naturally, our State government, like all governments, will find a way to spend the extra revenue, and more. So I don't really count that as a benefit. However, the oil industry is responsible for ~10% of the better paying jobs in Alaska, and I do count that as a benefit.

So you're okay with this government investment.

As for there being "a lot of stranded fossil fuel assets," when the pipeline was originally built in 1977 both Congress and the State of Alaska made BP, Exxon, Shell, and all the other owners set aside $20 billion for the removal of the pipeline and all of its assets when it is eventually shut down. Those funds have been sitting in escrow, and growing, for the last 43 years.

That is very anti-free market. How do you justify you benefitting from the government forcing 'producers' to invest their money how the government wants them to?

 

[Glitch]

Environmental damage is the top issue.

What environmental damage? Be specific.

That's because oil is getting harder and harder to extract. We're probably past the point of "relatively easily extracted" oil: also known as 'peak oil.'

Incorrect. Oil is easier to obtain now than it ever has been, thanks to new technologies. We are not even close to peak oil, as new oil resources are being located annually. I'll wager that you are unaware that the National Petroleum Reserve, an area about the size of the State of Indiana has only been explored 10% for oil. It is located just west of Prudhoe Bay, and the obvious next location to find more large quantities of oil in Alaska.

So you're not anti-government in this situation?

What makes you think I'm anti-government? 85% of the State of Alaska is funded by oil royalties. That is why there is no State sales or income taxes in Alaska. Government is funded entirely from the resources private companies pull from the ground. Besides oil, Alaska is the world's largest exporter of zinc and lead, and we ship a sizable amount of coal to China on a regular basis. Then there are the gold, silver, and jade mines.

So you're okay with this government investment.

Why wouldn't I be? The royalties from the oil and other sources, which belong to every Alaska according to the State Constitution, are invested in the private sector and Alaskans receive dividends from those investments. Isn't that what capitalism is all about?

That is very anti-free market. How do you justify you benefitting from the government forcing 'producers' to invest their money how the government wants them to?

You obviously don't understand the meaning of escrow. It is neither the oil company nor the government's money when in escrow. Neither have any control, until that day when the pipeline is shutdown and removed.

 

[Greenbeard]

What "future" is assured?

Government checks for Alaskans.

 

[Glitch]

Government checks for Alaskans.

Clearly you are uneducated. Thanks for clearing that up.

 

[Antiwar]

What environmental damage? Be specific.

Climate change is the top one.

Incorrect. Oil is easier to obtain now than it ever has been, thanks to new technologies. We are not even close to peak oil, as new oil resources are being located annually.

New technologies and new locations are needed because the easier sources have been extracted and much of them have been burned.

What makes you think I'm anti-government?

Your anti-government comments that I have seen and read.

85% of the State of Alaska is funded by oil royalties. That is why there is no State sales or income taxes in Alaska. Government is funded entirely from the resources private companies pull from the ground. Besides oil, Alaska is the world's largest exporter of zinc and lead, and we ship a sizable amount of coal to China on a regular basis. Then there are the gold, silver, and jade mines.

I agree that wealth that stems from natural resources should be redistributed. That's one socialist aspect of the mixed economy.

Why wouldn't I be? The royalties from the oil and other sources, which belong to every Alaska according to the State Constitution, are invested in the private sector and Alaskans receive dividends from those investments. Isn't that what capitalism is all about?

Again, that's a socialist aspect of the mixed economy.

You obviously don't understand the meaning of escrow. It is neither the oil company nor the government's money when in escrow. Neither have any control, until that day when the pipeline is shutdown and removed.

I understand escrow. And you understand that the government coerced/forced the free market capitalist business organization to hand over the money for that escrow.

 

[Antiwar]

Government checks for Alaskans.

Otherwise known as socialism.

 

[Greenbeard]

Clearly you are uneducated. Thanks for clearing that up.

Calm down, nobody’s trying to halt your gravy train. You’ll get your check.

 

[Antiwar]

Calm down, nobody’s trying to halt your gravy train. You’ll get your check.

Do you disagree with the idea that resources should be shared?

 

[Glitch]

Climate change is the top one.

Here is a news flash for you, since they obviously skipped that part of your indoctrination: THE CLIMATE CHANGES! and it always has since an atmosphere first appeared on the planet.

This is why I hate dealing with the indoctrinated. They have no education because their minds have been occupied by leftist BS. Even basic physics is completely beyond their ability to comprehend, and you can absolutely forget about civics. There are no more civically illiterate people on the planet than an indoctrinated leftist.

New technologies and new locations are needed because the easier sources have been extracted and much of them have been burned.

There is always more where that came from, as the 1002 Area in ANWR amply demonstrates.

Your anti-government comments that I have seen and read.

Post one. I've only been pro-constitution, never anti-government. So that is a deliberate lie. Which is precisely what I've come to expect from leftists. What is the next leftist stunt you want to pull?

I agree that wealth that stems from natural resources should be redistributed. That's one socialist aspect of the mixed economy.

The wealth from the natural resources is not being redistributed. It is being invested. The corpus remains untouched. Currently there is a principle of $53.7 billion, with $69,780,600,000 total in the Permanent Fund. It is called a Permanent Fund because it requires a constitutional amendment approved by 75% or more of the voters to spend any of it. The investments are also being managed by a private company, not a government entity. See: https://apfc.org/home/Content/home/index.cfm

Again, that's a socialist aspect of the mixed economy.

If you think socialism is investing money into capitalist businesses, then you obviously have no clue what socialism means. Which isn't surprising considering your indoctrination.

I understand escrow. And you understand that the government coerced/forced the free market capitalist business organization to hand over the money for that escrow.

You obviously don't since you consider it under government control.

Get an education, because you are just embarrassing yourself with all this leftist BS you are spewing.

 

[Antiwar]

Here is a news flash for you, since they obviously skipped that part of your indoctrination: THE CLIMATE CHANGES! and it always has since an atmosphere first appeared on the planet.

This is why I hate dealing with the indoctrinated. They have no education because their minds have been occupied by leftist BS. Even basic physics is completely beyond their ability to comprehend, and you can absolutely forget about civics. There are no more civically illiterate people on the planet than an indoctrinated leftist.

I'll respond to this part, now. And might or might not reply to the rest, in which you did point out a couple of honest mistakes I might have made.

I have physics and a hard science education. Your emboldened claim that "The climate changes" is correct- nobody that I am aware of does not believe that. On top of that change we've added an imbalance of extra energy, mostly through burning boat/train/truck/pipeline/etc-loads of fossil fuels, every day. That combustion with air produces a proportionally higher amount of carbon dioxide. That carbon dioxide traps heat from our ultimate energy source, the Sun. That extra energy in Earth's biosphere mainly affects the natural water cycle (I recently learned that from Jeremy Rifkin).

What partisan political physics are you using?

 

[Robertinfremont]

What "future" is assured?

Alaska does this wonderful thing for their own taxpayers.

 

[Antiwar]

Alaska does this wonderful thing for their own taxpayers.

It sounds very similar to what I've heard Norway does.

 

[Robertinfremont]

I'll respond to this part, now. And might or might not reply to the rest, in which you did point out a couple of honest mistakes I might have made.

I have physics and a hard science education. Your emboldened claim that "The climate changes" is correct- nobody that I am aware of does not believe that. On top of that change we've added an imbalance of extra energy, mostly through burning boat/train/truck/pipeline/etc-loads of fossil fuels, every day. That combustion with air produces a proportionally higher amount of carbon dioxide. That carbon dioxide traps heat from our ultimate energy source, the Sun. That extra energy in Earth's biosphere mainly affects the natural water cycle (I recently learned that from Jeremy Rifkin).

What partisan political physics are you using?

If we are going to be damaged by climate, it sure better start the damage. So far the dire damage claims are a total bust.

 

[Robertinfremont]

It sounds very similar to what I've heard Norway does.

That is awesome.

 

[Antiwar]

If we are going to be damaged by climate, it sure better start the damage. So far the dire damage claims are a total bust.

Do you live in Fremont, CA?

 

[Robertinfremont]

For posters saying oil is harder to extract, they have to mean old technology. Today the oil drilling bits contain computers to force them to drill where the oil actually is.
Technology has helped our public a lot.

 

[Robertinfremont]

Do you live in Fremont, CA?

I once did. I moved to the Boise Idaho area and here it is cold.

 

[Antiwar]

I once did. I moved to the Boise Idaho area and here it is cold.

Did you hear how dire the consequences were this early fire season that involved more of the West?

A family friend lives in Boise. He has my old '48 Chevy five-window pickup.