Word: alaskans
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...conserve energy by driving at 55 m.p.h. and turning off the air conditioning, a severe oil glut is building west of the Rockies. At times, as many as 20 bulging tankers have been backed up in California's Long Beach harbor. Nearly half a million barrels of Alaskan crude, which oilmen had originally figured would go to the West Coast, are rerouted daily through the Panama Canal to the Gulf or East Coast ports at additional costs of more than $1 million. And although independent California oilmen are protesting a surplus that has forced them to close, or "shut...
This bizarre situation has been caused by a combination of bad planning, bureaucratic bungling and environmentalist zeal. Contrary to the expectations of oil companies when the Alaskan pipeline was proposed, the West Coast states just cannot use all the North Slope output of 1.2 million bbl. a day, primarily because energy-saving measures have cut anticipated demand. A federal oil-pricing scheme has further reduced the use of California's own oil within the state...
Repeal Inflationary Special-Interest Laws. The Jones Act, which requires all goods moving between U.S. ports to travel aboard high-cost U.S. ships, has many inflationary consequences, including raising the price of Alaskan oil shipped to the West and Gulf Coasts. The Davis-Bacon Act, a relic of the Depression, swells construction costs by requiring, in effect, that union wages must be paid on all federally aided projects...
...oversupply has been caused primarily by the arrival of oil on the market from new North Sea, Alaskan and Mexican wells. Those three areas are now producing an estimated 2 million bbl. per day?precisely the amount of the current surplus. Oil Minister Mani Said Utaiba of the United Arab Emirates admitted at the conference: "We can't talk about increasing prices because there are too many barrels of oil every day in the market. If we increase the price, we won't be able to sell...
...capital, grimly citing the example of Brasilia, a city built in the wilderness because "various parts of Brazil despise one another and would only agree on a wilderness site." While the decision to build a new state capital is an important one--part of disturbing trend of sacrificing the Alaskan wilderness to economic and political exigencies--the various interest groups pushing for one location over another are all too familiar. This section of the book does not measure up in fascination or majesty to the other sections and unfortunately, McPhee treats them a little too thoroughly...