Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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 CET

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
Latest news
Date Title
01:11a U.S. stocks enjoy best day since election; Dow, S&P post new records
01:11a FIRST NATIONAL ENERGY : Corporater joins icma strategic partner program
01:10a MACY : Medina's Castle Noel collection of Christmas fun grows
01:07a Canada set to agree carbon price, marking climate split with Trump
01:07a BLUE SKY POWER : may buy Jilin gas business
01:07a BANK OF JAPAN : Japan Overall Bank Lending +2.4% In November
01:07aDJTAILORED BRANDS : Shares Jump as Retailer Reports Profit
01:07aDJNo Evidence of Fire Detectors, Sprinklers in Oakland, Calif., Warehouse
01:07aDJBANK OF NEW YORK MELLON : Lost Ability to Process Payments for 19 Hours
01:06a ALLY FINANCIAL : Surprises Miami-Area Kids with New Bikes for the Holidays
Latest news
Advertisement
Hot News 
-13.09%VERA BRADLEY : Shares Drop as Company Slashes Outlook
14.22%SUNPOWER : CEO expects solar panel prices decline to stop next year
7.61%BLACKSTONE LP : Solvay to sell cigarette filter business Acetow to Blackstone
-3.90%CARILLION : sees slowdown in pace of new orders post-Brexit
9.45%STEINHOFF INTERNATIONAL : Poundland shifts away from one price fits all
Most Read News
06:22p MEDTRONIC : China says fines Medtronic local unit 118.5 million yuan for price fixing
06:51p Retailer Wal-Mart de Mexico to invest $1.3 billion in Mexico
06:20p Lululemon quarterly sales top expectations, shares jump
06:07p PUMA BIOTECHNOLOGY : Presents Interim Results of Phase II Trial of PB272 for ERBB2 (HER2) Mutant, HER2 Non-Amplified, Metastatic Breast Cancer at the 2016 San Antonio Breast Cancer Symposium
06:20p BLACKROCK : adjusts leadership team for its largest mutual fund
Most recommended articles
12/02 Platts considers first addition to Brent basket since 2007
11/30DJCash Crunch Looms Over India's Growth Spurt
07:07pDJTAILORED BRANDS : Shares Jump as Retailer Reports Profit
07:07pDJBANK OF NEW YORK MELLON : Lost Ability to Process Payments for 19 Hours
06:51p Retailer Wal-Mart de Mexico to invest $1.3 billion in Mexico