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

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

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

07/17/2013 | 06:17pm US/Eastern

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
React to this article
Latest news
Date Title
08:15p OROCO RESOURCE : Receives 16.5 Million Shares of Goldgroup Mining Inc.
08:13p SUNEDISON : withdraws application for Hancock wind project (BRIEF)
08:11p WAL MART STORES : Nanticoke River shipwreck could be linked to Revolutionary War skirmish
08:10p LEGG MASON : Five Minutes With portfolio manager Sam Peters
08:10p Australian Dollar at Risk on RBA, Rebuilding Fed Rate Hike Bets
08:06p HONDA MOTOR : BRIEF: Driver dies after car crashes head on into logging truck in Lancaster County
08:05p AIR CHINA : IN BRIEF (Page 6)
08:05p CHINESE PEOPLE : Park's visit reflects rising mutual trust
08:05p CNOOC : Oil firms see profit go up in smoke
08:05p COSCO : reaps the rewards of restructuring
Latest news
Advertisement
Hot News 
OPPORTUNITY INVEST MGMT : 28 augustus 2015 - PRESS RELEASE: Announcement OIM 28 August 2015
MOLYCORP : Massive Mojave mine Molycorp to close, taking nearly 500 jobs
CHALLENGER ACQUISITIONS : Says It Is Focused On Integrating Starneth
STEREOTAXIS : Westmead Hospital Research Provides Significant Data Supporting the Ablation Effectiveness of Stereotaxis Magnetic Navigation
RARE EARTH MINERALS : Sonora Project Signs Lithium Supply Contract
Most Read News
07:19p TERRENO RESOURCES CORP. : Announces Termination of Arrangement Agreement With Crown Life
06:00p FINAL RULING : Water Authority Owed $188.3 Million Plus Interest in Rate Case Victory
07:00p ALCOA OF AUSTRALIA : Anglesea community groups share in Alcoa grants more
07:04p Preparations underway for Sadr memorial
06:06p AMBER CAPITAL LP : Press Release and Early Warning Report
Most recommended articles
08:10p Australian Dollar at Risk on RBA, Rebuilding Fed Rate Hike Bets
07:50p Sterling Runs into Support as Carney Takes the Stage at Jackson Hole
07:42p Exclusive - Carlyle looks to sell Landmark Aviation for $1.7 billion - sources
07:40p Gold Reverses as Fed Expectations Rebound- US NFP to Clear the Way
07:25p JPY Bulls Brace for BOJs Next Bailout