Word: oilmen
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Dates: during 2000-2009
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...getting the sulfur out of diesel fuel, tightening pollution controls on power plants and even curbing emissions of carbon dioxide, the main greenhouse gas that causes global warming, which is the biggest environmental problem of them all. Is this really the agenda of an Administration headed by two former oilmen...
That may be about to change. With two former oilmen in the White House, a Republican Congress calling for greater access to public lands out West, and high energy prices worrying consumers, America's last true wilderness is under attack. The 50-year-old debate over whether to open up the Arctic National Wildlife Refuge, known as ANWR(pronounced An-war), is shaping up as the defining environmental battle of the Bush presidency. For months, George W. Bush has spoken in favor of drilling for oil in the refuge. As rolling brownouts swept California, he argued that Alaskan oil exploration...
None of these arguments carry much weight among the oilmen. Phillips Petroleum, BP Amoco and ExxonMobil all hope to profit from ANWR leases. So do Halliburton--the oil-field services giant headed until recently by Vice President Dick Cheney--and Enron, a large energy marketer run by Bush buddy Kenneth Lay. For them, it seems, the only good oil field is a tapped oil field...
...black gold. But few have kept their confidence for long. Most have endured frustrating years waiting for deals to be signed, as bureaucracy, xenophobia and corruption combined to thwart their dreams of bringing Sakhalin's well-known oil riches to the outside world. But in recent months, the oilmen have turned almost giddy--buoyed in equal measure by the high price of crude and President Vladimir Putin's pledge to build a legal foundation for the West's multibillion-dollar oil bet on Russia...
...change will begin. Once a czarist penal colony, then little more than a Soviet air base, Sakhalin is now home to the largest foreign investment projects in Russia. These deals, totaling some $26 billion, are long-term oil and gas Production Sharing Agreements--PSAs, in the argot of the oilmen--that offer the legal framework that Western companies require if they are to make major capital outlays in developing Russia's oil, gas and mineral deposits. The deals grant foreign companies export rights and tax breaks, while Russia gets a share of the petroleum flow...