Word: beauforts
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...Hunts revealed in the documents the inner relations of family businesses. Each brother, for example, owns an equal share of Planet Petroleum. But Bunker has 50% of Hunt International Petroleum, which holds valuable oil leases in Canada's Beaufort...
...market that day. Following a feverish negotiation, the Hunts were finally let out of their commitment in return for giving Engelhard 8.5 million oz. of silver worth $121 million, as well as oil and gas drilling rights valued at $300 to $750 million in Canada's Beaufort...
...series of conservation moves, including standby rationing. Without rationing, Bradshaw fears the U.S will face the hard choice of either shortages or import surges in the early 1980s. Domestic reserves are declining, and while there is potential for vast discovery deep below the hostile, ice-choked waters of the Beaufort Sea off Alaska and Canada that will take years to prove and develop. So will solar power, though Bradshaw's firm is spending millions experimenting with it, and "our company will play any wild card in solar. But when we think of alternatives to oil in the 1980s...
Last week briefcase-toting oilmen gathered at a Fairbanks hotel to bid for drilling rights in the first small part of the U.S.'s Beaufort Sea sector to be opened to exploration. Offers by the companies totaled $2 billion for some 500,000 acres of tracts, but when the leases will be awarded is uncertain. Just four days before, a federal judge had ruled that the lease sale could not be completed until the courts resolved an environmental suit brought by the National Wildlife Federation and other groups calling for a ban on Beaufort Sea drilling...
Despite these precautions, lawsuits could hold up the start of Beaufort Sea development for some time. Oral arguments in the federal suit brought by the National Wildlife Federation will be heard in a Washington, D.C., court on Jan. 3, and there is no telling exactly when or how the case will be resolved. Meanwhile, another suit to halt exploration has been brought by several local parties, including the Alaskan town of Kaktovik, a coastal hamlet populated by 175 Eskimos. Since bowhead meat is a staple of the villagers' diet, their lawyers argue, the Eskimos could be afflicted with "serious...