[thackney]

Capital spending under ACES is UP, although not enough. Even you finally admitted that.

You can confuse maintenance projects with investment for future production if you want. I'm actually doing work for them and I know better. The first two years were mostly spending for projects underway, it fell significantly after that.

Now ConocoPhillips is spending money to update pigging of the gathering lines before the get into the leaky pipe scenario that BP fell into. They are spending money to bring Fuel Gas from Prudhoe as Kuparuk supply dwindles. And the only new drill site that is planed at this time is CD-5 in NPRA on Federal Land.

Keep watching their production rate fall. Alaska will have plenty of folks watching and still not understand why they don't compete with Texas and others lower production tax.

[Al B.]

You can confuse maintenance projects with investment for future production if you want.

CP is spending more money to produce a barrel of oil in AK than ever before. You mean they're not spending any of that in Alaska either?