2-20-12

2-20-12

How they voted – Chicago Post-Tribune – OIL EXPORTS AND KEYSTONE XL PIPELINE: The House rejected an amendment sponsored by Rep. Edward Markey, D-Mass., to the Protecting Investment in Oil Shale the Next Generation of Environmental, Energy, and Resource Security Act (H.R. 3408). The amendment would have required oil transported by the Keystone XL pipeline to be used in the U.S. unless a presidential waiver was granted on the grounds that exporting the oil would not increase prices or would not increase dependence on imports from hostile nations. The vote, on Feb. 15, was 173 yeas to 254 nays. (The House of Representatives passed out significant energy legislation last week. We will see what the Senate does. – AG)

Tax advice: Fundamental reform is needed in the oil patch – Fairbanks Daily News Miner, Editorial – “The three major oil companies are in a ‘harvesting mode,’ which means their main objective is drawing cash out of Alaska to invest elsewhere,” van Meurs told the committees during his presentation Tuesday. “The reasons for this are: No large and attractive projects available in Alaska under current fiscal terms for major oil companies (and) attractive opportunities outside Alaska.”

Alaska must sustain oil production: Falling investments should be reversed – Fairbanks Daily News Miner, Cynthia Henry – The reason is Alaska’s high production tax, ACES. Under ACES, there is little incentive to invest in the legacy fields, which hold much of the oil. As ConocoPhillips’ chief economist told Meet Alaska: “Alaska has the highest tax rate of any of the developed countries that ConocoPhillips might operate in. And of course that tax rate goes up substantially as the oil price goes up. So there is no upside for investment in Alaska.”

Domestic production eyed as gas prices head toward record-breaking height – Fox News – Nationally, gas prices are $3.53 a gallon, up 25 cents since Jan. 1, and likely headed to $4.25 a gallon by late April. Republicans have demanded more oil production at home, as well as building the Keystone XL pipeline across the middle of the U.S. to allow oil from Canada to reach Texas refineries.

Canada threatens trade war with EU over tar sands – The Guardian, Damian Carrington – "Canada will not hesitate to defend its interests, including at the World Trade Organisation," state letters sent to European commissioners by Canada’s ambassador to the EU and its oil minister, released under freedom of information laws.

Mitsubishi to Invest in Encana’s Natural Gas Development Project in British Columbia, Canada – Market Watch – MC has established a wholly owned subsidiary company Cutbank Dawson Gas Resources Ltd that will become the Partner to CRP. Under the transaction agreements, MC will pay CAD$1.45 billion as an upfront payment upon closing, and will also pay another CAD$1.45 billion over the coming five years that will be used to fund an incremental 30%, in addition to MC’s 40% of the Partnership capital investments, to develop CRP’s asset in accordance with an agreed-upon development plan.

By wpnorthern|2016-12-22T22:32:49-09:00February 20th, 2012|Uncategorized|0 Comments

About the Author: wpnorthern

Dave Harbour, publisher of Northern Gas Pipelines, is a former Chairman of the Regulatory Commission of Alaska, a Commissioner Emeritus of NARUC, NARUC's Official Representative to IOGCC and Vice Chairman of NARUC's Gas Committee. He served as Gas Committee Chairman of the Western Conference of Public Service Commissioners. He also served as commissioner of the Anchorage Bicentennial Commission and the Anchorage Heritage Land Bank Commission. He earned a Bachelor of Arts Degree: English, at Colorado State University, a Master of Science Degree: Communications-Journalism at Murray State University and graduated from Utility Regulatory School for Commissioners at Michigan State University. He served as a Vice President for Communications and Public Affairs at Alaska Pacific University, taught bank marketing classes at the University of Alaska and was an English teacher at Los Alamos High School. Harbour served in ranks of Private - Captain during a 4-year assignment with the Army in Korea, Idaho, Georgia and Fort Meade and received the Meritorious Service Medal among other commendations. Harbour is also a past Chairman of the Alaska Council on Economic Education, the Alaska Oil & Gas Association Government Affairs Committee, the Anchorage Chamber of Commerce, the Export Council of Alaska and the Department of Commerce's District Export Council. He is a past President of the Alaska Press Club, American Bald Eagle Foundation, Consumer Energy Alliance-Alaska and Common Sense for Alaska. Harbour was instrumental in founding the American Bald Eagle Research Institute (UAS), the Alaska Support Industry Alliance, the Downtown Anchorage Business Partnership, and Arctic Power. He also served as CEO of several small Alaska organizations, including the Anchorage Parking Authority and Action Security, Inc. Harbour is also Chairman Emeritus of the Alaska Oil & Gas Congress. Harbour's wife, Nancy, is a professional, performing arts administrator and his three boys, Todd, Benjamin and William work in the fields of environmental management, energy marketing and medicine.