Word: landed
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Dates: during 1960-1969
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...drive will cover 2500 miles of border, including 31 land points and 27 airports...
Last week part of that treasure produced a scene reminiscent of the land-rush days of the old West. At stake was not land or gold, but oil-an estimated 5 billion to 10 billion barrels -that lies below the tundra of Alaska's North Slope. Gathered in a concrete auditorium in Anchorage, executives of 50 oil companies bid for the right to explore for oil along a 140-mile coastal stretch of state-owned land. When the bidding ended, Alaska was richer by $862,297,961.05-more than has been mined in yellow gold in the past...
...drilling crew struck pay dirt 8,700 feet below the tundra at Prudhoe Bay, on the Arctic Coast. Since then, 22 drilling rigs have been brought in, and their crews have sought to duplicate that feat, often working in minus 65° weather and braving 100-m.p.h. winds. The land that they explored was open range until last week's sale of leases, and maintaining secrecy was as important as keeping warm. Companies hired helicopters to spy on competitors' drilling rigs, and the crews in turn switched on hot-water hoses to throw up screens of steam...
...pressure mounted during the countdown to last week's sale of leases, Anchorage (pop. 113,000) became a haven for industrial spies and counterspies, almost suggestive of Lisbon in the 1940s. The state had put on the auction block 179 tracts of land, totaling 450,858 acres, some of it reaching out under the Arctic Ocean. The rules demanded sealed bids for each tract, to be submitted no later than the morning of the sale...
...interest that the money will earn, and Governor Miller has asked the Stanford Research Institute to undertake a similar study. Beyond that, Alaska has another 800,000 acres to put up for bids whenever it wishes, and will collect 90% of the royalties from any oil produced on federal land within the state...