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US to open 3.9m acres in Alaska for drilling
Financial Times ^ | July 16, 2008 | Sheila McNulty

Posted on 07/16/2008 7:18:15 PM PDT by bobsunshine

The US federal government on Wednesday said it would open 3.9m acres of land in a designated petroleum reserve in Alaska for drilling as a means to help curb rising petrol prices.

“This is welcome news at a time when Americans are paying record prices at the pump,” said C. Stephen Allred, assistant US Secretary for Land and Minerals. “Together with proposed new production from other offshore and onshore areas, these increased supplies will help to stabilise energy costs.’’

The Alaska decision follows one by President George W. Bush on Monday to lift a presidential ban on drilling on the US outer continental shelf, off Florida. That decision still requires Congress to lift a separate ban on the area before the area can be leased for development.

But the Bureau of Land Management, an agency within the US Department of the Interior, said the Alaskan land that will now be offered requires no other approvals and will be up for leasing in the autumn.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; US: Alaska
KEYWORDS: 110th; alaska; beeber; blm; bush; drillheredrillnow; drilling; energy; oil; stuned; term2; thanksgovhacks
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To: o_zarkman44
" That seems to be the daily mission of congress. Nothing seems to phase them except the fear of losing their elections grip on power" .

There now, fixed.
241 posted on 07/18/2008 8:18:26 AM PDT by Prophet in the wilderness (PSALM .53 : 1 The FOOL hath said in his heart, there is no GOD.)
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To: fella
Then BP and the other oil companies should tell the moonbats/Liberals/Demorats that there is no oil there, and in exchange to give that land back for the other areas were we know there is oil and make the already used area a wildlife sanctuary new oil refineries.
242 posted on 07/18/2008 8:21:38 AM PDT by Prophet in the wilderness (PSALM .53 : 1 The FOOL hath said in his heart, there is no GOD.)
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To: bobsunshine

This sounds like good news.

Lets be careful in any enthusiasm as I believe this does NOT include ANWR, which is known to have significant oil reserves. The Dims are refusing to allow drilling in ANWR.


243 posted on 07/18/2008 9:31:52 AM PDT by kevinm13 (The Main Stream Media is dead! Rush the Vote. Operation Chaos rules. "Global Warming" is a HOAX!)
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To: RightWhale; All

Today the MSM was decrying the “fact” that oil was moving back up. I just checked my link at Comment 228, and imaging, Aug. 08 was up 50 cents, but Sept. 08 was down 97 cents. And this was after the noon news, actually the high for the day was barely noticeable. Sheesh.


244 posted on 07/18/2008 12:05:45 PM PDT by gleeaikin
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To: gleeaikin

The oil futures are all over the place, which means there is no trend looking forward, which means nobody has a clue.

Here is a clue:
GM and the Electric Power Research Institute will announce the tie-up next week at an event in San Jose, California, to promote rechargeable electric vehicles


245 posted on 07/18/2008 1:15:46 PM PDT by RightWhale (I will veto each and every beer)
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To: CindyDawg

CindyDawg: You won’t see any significant effect on the price at the pumps until the products that are in the supply pipeline have worked their way through the system. That takes about six weeks. Until then, the gas stations will be paying the price of the last several months for the fuel that is in the storage tanks and gasoline tanker trucks.


246 posted on 07/18/2008 1:40:48 PM PDT by AFPhys ((.Praying for President Bush, our troops, their families, and all my American neighbors..))
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To: Uncle Miltie
We’d be in less of a pickle if he’d acted on this 7.5 years ago

Remember, in Jan 2001, oil was $24/bbl, and by Dec 2001 oil was $16/bbl....no pickles!

247 posted on 07/18/2008 3:06:17 PM PDT by CRBDeuce (an armed society is a polite society)
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To: cla62

The $4.03 stations here are now $3.89/gal....


248 posted on 07/18/2008 3:18:16 PM PDT by CRBDeuce (an armed society is a polite society)
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To: Redbob

Yep.....just think August......one month of still, stultifying, thick, hot, humid air. Thank God for mint julips (May be all we’ll have in 20 years if the Dems are still in the congress)...never did like air conditioning anyway!


249 posted on 07/18/2008 3:21:01 PM PDT by CRBDeuce (an armed society is a polite society)
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To: RightWhale
The oil futures are all over the place, which means there is no trend looking forward, which means nobody has a clue.

Oil futures rise from $128 now to $133 next February, then decline steadily to the $128 level again by next summer and then steady to down to $127 by 2016. (ie, no $130 oil again after this winter). While I don't necessarily disagree that "they don't have a clue", the speculators are pulling out in droves...so the speculative margins are declining as rapidly as they rose for the entire futures time period. Expect continued decline 'til inventories of gasoline stop rising.

250 posted on 07/18/2008 3:27:02 PM PDT by CRBDeuce (an armed society is a polite society)
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To: bobsunshine
Did they make this decision arbitrarily? Why are we at the mercy of these bureaucrats?
251 posted on 07/18/2008 3:55:43 PM PDT by traviskicks (http://www.neoperspectives.com/Ron_Paul_2008.htm)
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To: CRBDeuce

They are now. They were not yesterday. Looks like the speculators have reached consensus.


252 posted on 07/18/2008 4:07:39 PM PDT by RightWhale (I will veto each and every beer)
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To: CRBDeuce

They are now. They were not yesterday. Looks like the speculators have reached consensus.


253 posted on 07/18/2008 4:09:31 PM PDT by RightWhale (I will veto each and every beer)
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To: bobsunshine

Gas went from $4.07 to $3.99, today, at my local station.


254 posted on 07/18/2008 4:12:45 PM PDT by rabidralph
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To: bobsunshine

I’m SO glad!!!


255 posted on 07/18/2008 5:12:15 PM PDT by Monkey Face (Don't assume malice for what stupidity can explain.)
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To: hole_n_one
That decision still requires Congress to lift a separate ban on the area before the area can be leased for development.

It should be sold.

The fact that the government owns any means of production is communistic.

256 posted on 07/19/2008 3:35:09 AM PDT by ROCKLOBSTER (RATs...nothing more than Bald Haired Hippies!)
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To: Man50D

It won’t - this was fairly common knowledge dys ago and it is already “priced in”.


257 posted on 07/19/2008 3:47:23 AM PDT by MarkT
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To: bobsunshine

Anyone else here have the insight to connect this with the very recent drop in oil futures?

Not that this is the whole deal, but a large part of futures trading is within the perception of future supplies.


258 posted on 07/19/2008 4:43:33 AM PDT by bill1952 (Obama-the only one who can make me vote McCain McCain-the only one who can make me stay at home)
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