BP out of Alaska?

The Alaskan Oil Pipeline closed down yesterday for a routine maintenance, as one notable oil spill related to that line is still being dealt with, and a more recent smaller spill is being managed, we hope.

And amid this news, there are rumblings that BP, which owns 46% of the company that runs the pipeline, may be selling out and moving on.

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I was distressed to find many people who are essentially pro-environment and who generally understand climate change science being less than terribly shocked about the prospect of the Keystone XL pipeline being built.
This is a press release from the Natural Resources Committee Democrats, US House of Representatives concer
This just in from Jason at 350.org: Friends, The moment is here: about an hour ago, some of big oil's best paid Senators filed an amendment supporting construction of Keystone XL to the Senate's budget bill.
Witness the overall demise of fossil fuel pipelines, thanks in part to the hard work of amazing activists, and in part to the fact that the value of these pipelines is dropping fast, which in turn, can be attributed in no small part to the hard work of amazing activists. And now, the latest:

I read that news as BP selling off petroleum leases rather than selling the pipeline operations. If they do sell leases it will be easiest to sell to the smallest lease holder in the area; otherwise whoever they sell to will have to dispose of some of their leases to comply with rules limiting a single entity's number of leases. Such rules were meant to prevent domination by another Standard Oil.

By MadScientist (not verified) on 01 Aug 2010 #permalink