I think this is a big LBN story. Why hasn't it gotten more responses?

Dec. 19, 2005, 10:53PM
Alaska Files Suit Against BP, Exxon Mobil


By MATT VOLZ Associated Press Writer
© 2005 The Associated Press

JUNEAU, Alaska — An antitrust lawsuit filed Monday against Exxon Mobil Corp. and BP PLC claims the two oil giants are restricting the nation's supply of natural gas and keeping prices at record highs.

The lawsuit, filed in U.S. District Court in Fairbanks, says the two companies acted together to eliminate competition for the exploration, development and marketing of natural gas from Alaska's North Slope to U.S. markets.

"The only reason for them to collusively not to sell is to try to continue the scarcity that has driven natural gas prices to historic highs," said David Boies, the attorney for the Alaska Gasline Port Authority, which filed the lawsuit.

BP and Exxon Mobil are two of Alaska's biggest oil and gas leaseholders, and are the operators for the North Slope's largest oil and gas fields, Prudhoe Bay and Point Thomson. Alaska's North Slope is estimated to have at least 35 trillion cubic feet of natural gas reserves, which could supply 7 percent to 10 percent of the nation's natural gas, Boies said.

The January future contract for natural gas rose 41 cents Monday to settle at $14.04 per 1,000 cubic feet on the New York Mercantile Exchange. The gas contracts have reached record levels near $16 per 1,000 cubic feet in recent months.


snip


http://www.chron.com/disp/story.mpl/ap/business/3536365.html

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=1997365&mesg_id=1997365

Alaska is also getting after them for not drilling on land next to ANWR, which they were supposed to be drilling on.

:kick:

...to keep from using too damn much gas?
....these bastards....it's been damn cold here too!

I am cold. My kids are cold. My DOG is cold. We are cold because we need to save money because gas prices rose 60%+ so far this winter. And we are lucky. We can not freeze to death and still eat. Those on a fixed income will not be so lucky. If these bastards are doing it on purpose, I will be really pissed.

at heart.

Off with their heads!

extremely closely with those oil industry giants in complete defiance of the Majority in the state. Someone has bypassed the Governor on this I am sure and I expect some fireworks to follow.

:grr:

which filed the lawsuit.

Wasn't he Al Gore's Lawyer in Bush Vs. Gore? I hope he has better luck this time!

create a stir when the same royalty policies are verboten in the lower 48. What's REALLY funny is that in restricting flows of nat gas, oil, in AK the prices are driven up but apparently Alaskans get paid from the volume pumped...is this correct ?

Those two Republican senators and one representative should resign from the R party and be honest and re-register with Bernie Sanders of VT as socialists, at least on this issue. The hypocrisy is overwhelming !

Who knows what the truth is in this corrupt industry.

Smokescreen or price-fixing, it is very important.

fears of Big Oil I'd show you.

I've also posted threads with the term "Peak Oil Hysteria" in the title.

They shut down and didn't build refineries to keeping supplies tight, keeping prices high.

Internal memos have shown this.

They aren't drilling on land right next to ANWR that's leased to them.

Alaska is threatening to take away those leases, if they won't drill.

Now they are being sued for keeping natural gas off the market.

If you look at industry publications, oil glut fears and how to maintain "price stability" are their main topics.

The war on Iraq, Iran, Venezuela, ect. are all about keeping supplies tight, keeping prices high.

If we can increase efficiency and develop alternative energy sources, Peak Oil need not happen at all.

In the mean time they're doing all they can to prevent this, and to avoid Oil Gluts.

the truth is it is a corrupt industry

as are any industries that take our own resources from us and then sell them back to us at an extortionate profit

i wonder if america would be able to afford free healthcare and education for all if it re-nationalized some of its most lucrative industries and used the profits for the good of the mojority?

i wonder ...

there's gotta be something else they can charge us an arm and a leg for?

air?

better hope someone doesn't invent a meter for it! :smoke:

Oh, hell yea!!! :grr: I don't know why there's not a slew of these anti-trust suits across America. The oil companies have been effin' us every which way.