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Come to Alaska, we want you to drill!!

|Includes: BP, COP, Royal Dutch Shell plc (RDS.A)
Currently we are watching BP get grilled on Capitol Hill.  I have to admit, Tony Hayward is taking the negative comments very well.  I cannot imagine why he would subject himself to such abuse.

BP may have made some very serious mistakes in the Gulf.  We may need to look at the regulations and standards being applied in the very deep water and we might need to exclude some of the companies from operating there.

What strikes me is that Shell, who has no such record, is being prevented from drilling up here in Alaska.  Other companies that would like to drill onshore or in comparably shallow waters are being denied.  ExxonMobil has lost their lease on the Point Thompson project because of paperwork.  This is a very odd move for a country with no national oil company and a huge appitite for oil.

Alaska on the other hand is open for business.  Our state waters are ready for you to take the leases and drill.  We have a real need for natural gas, and we have a pipeline for oil that is running low.  We have changed the laws and except for a few at the DNR that a little difficult to work with we are ready for you.

Independents are what the state is looking for.  Over the last several years the majors have reduced their commitment to the state and currently the tax regime does not favor them.

Have any of the independents answered the call, well Link Energy has.  Cook Inlet Energy has, Australian based Buccaneer Energy has and the rumors are that the Mighty Apache led by Steve Ferris is coming.

Who is going to follow?  The Gulf of Mexico is off limits, come one come all to the Cook Inlet of Alaska.  My place is just outside Anchorage, I just bought a brand new generator.  Why?  Because the Untility says we may have brown outs starting next year.  That and it was on sale.