Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

U.S. Senate Committee on Energy and Natural Resour : Murkowski Commemorates 40th Anniversary of Senate Vote on Trans-Alaska Pipeline System

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/18/2013 | 12:17am CEST

WASHINGTON, D.C. - U.S. Sen. Lisa Murkowski, R-Alaska, today highlighted the 40th anniversary of the Senate approving construction of the Trans-Alaska Pipeline (TAPS) in Alaska.

"Four decades ago today, the Senate authorized an ambitious project to construct a pipeline across the entire state of Alaska to deliver North Slope crude oil to the Lower 48," Murkowski said. "It was a monumental decision that has shaped the trajectory of Alaska to this day."

On July 17, 1972, the Senate voted 49-49 to approve construction of the pipeline. The deadlock was broken by the Vice President. The House approved similar language on Aug. 2, 1973.  

Work on the pipeline began in April of 1974, and finished in June 1977. More than 70,000 individuals worked on the construction of the 800-mile pipeline, overcoming extreme cold, difficult terrain and problems caused by permafrost. The first oil flowed down the pipeline to the seaport of Valdez on June 20, 1977.

Construction of the pipeline spurred exploration on the North Slope, leading to discoveries of new fields, including Kuparuk, Endicott and Alpine. At its peak on Jan. 14, 1988, TAPS carried 2.1 million barrels of oil a day. To date, the pipeline has delivered more than 16 billion barrels of oil to U.S. consumers.

The amount of oil in the pipeline has been steadily decreasing over the years as oil fields on state-owned land are depleted. The pipeline currently carries about 550,000 barrels of oil a day.

"The decrease in oil flowing through TAPS is something all Americans should be concerned about. The loss of one-fifth of our country's oil output is no small matter," Murkowski said. "A vast amount of oil remains as yet untapped in Alaska, most of it trapped on federal lands. It's my hope that on this 40th anniversary of the pipeline, we'll start to pay greater attention to the looming problem of losing a major portion of our country's domestic oil production if more federal lands in Alaska aren't opened to responsible development."

Murkowski is Alaska's senior senator and the ranking Republican on the Senate Energy and Natural Resources Committee.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
07:27p IOVATION : Named "Service Provider of the Year" for Insurance Claims Fraud Detection
07:26p WELLS FARGO & COMPANY/MN : Financial Statements and Exhibits (form 8-K)
07:26p Claimed Death Toll from Medical Errors Meaningless, Says the Association of American Physicians and Surgeons (AAPS)
07:26p GENEURO : Announces the End of Stabilization Operations in Connection with IPO and the Implementation of a Liquidity Contract
07:25p Oil turns lower after bigger-than-forecast U.S. crude build
07:25p Oil turns lower after bigger-than-forecast U.S. crude build
07:25p Pop Vicenza can relaunch with bank fund, new management - PM Renzi
07:25p Bladder Cancer Advocacy Network Appoints New CEO
07:22p ARCH COAL : LCSD2 music teacher given Arch Coal award
07:21p Technavio Expects the Global Grow Lights Market to Exceed USD 3 Billion by 2020
Latest news
Advertisement
Hot News 
AVOLON : delivers its first Airbus A320neo aircraft
MARECHALE CAPITAL : Unaware Of Any Reason For Share Price Jump
Purcell Julie & Lefkowitz LLP Is Investigating Histogenics Corporation for Potential Breaches Of Fiduciary Duty By Its Board of Directors
OpGen and District of Columbia Hospital Association Complete First Citywide Quantification of Multidrug-Resistant Organism (MDRO) Prevalence in Washington, D.C.-based Healthcare Facilities
DGAP-ADHOC : ItN Nanovation AG stellt Antrag auf Insolvenz in Eigenverwaltung
Most Read News
05/03 Lateral Gold Announces Proposed RTO Transaction with CANHaul International
05/03 Cascade Financial Services to be Acquired by an Affiliate of Centerbridge Partners, L.P.
05/03 CREDIT CHINA : Announces Investment in BitFury, Joint venture to jointly promote Blockchain technology in China, Strengthen information security and Group's capability in Internet finance
05/03 CRAMER : Federal Regulators Have No Answer for Need for Devastating Mining Rule
05/03 LEVI STRAUSS & CO. : Names Roy Bagattini President of Levi Strauss Americas
Most recommended articles
05/03DJUBS Shares Drop As Profit Slumps
01:25p Oil turns lower after bigger-than-forecast U.S. crude build
01:25p Oil turns lower after bigger-than-forecast U.S. crude build
01:25p Pop Vicenza can relaunch with bank fund, new management - PM Renzi
01:16p ROYAL BANK OF SCOTLAND : RBS prepares for Brexit uncertainty, to cut more costs