Alaska Senator Murkowski Blasts U.S. Energy Policy, Calls for Exploring Alaska's North Slope.

Business/Energy Editors

HOUSTON--(BUSINESS WIRE)--Oct. 4, 2000

While the United States suffers from dependence upon high-priced foreign oil, misguided environmental policy keeps the domestic industry from developing the billions of barrels of crude below Alaska's North Slope, says Senator Frank Murkowski, Alaskan senator who heads the Senate Energy and Natural Resources Committee.

In the new issue of World Energy magazine, Murkowski says 20 years of production in Prudhoe Bay have produced 12 billion barrels of oil and $300 billion for the U.S. economy, yet wildlife such as polar bears, migratory birds and caribou herds are doing better than when drilling began. (Article available at www.worldenergysource.com.)

"The U.S. can open the Arctic National Wildlife Refuge (ANWR) without sacrificing an acre of our nation's wilderness," Murkowski claims, noting the ability of today's technology to develop and produce more oil using less surface area.

This issue contains other warnings about the current lack of a cohesive energy policy. The high costs of meeting regulatory mandates for a wide range of different fuel formulations make it likely that some refiners will be unable to justify the investment and simply shut down, according to CITGO President and CEO David Tippeconnic, who warns of an environment where supply disruptions could occur.

Decrying the fact that this summer, federal and state regulators required 12 different types of gasoline in three grades across the country, not including California, Tippeconnic says the EPA's "Tier 2 Rule" reducing sulfur content in motor fuels will make things worse, costing the industry $8 billion.

"If the EPA does not properly facilitate the permitting process or if other regulations, like the proposed diesel sulfur regulations or a ban on MTBE, overlap the Tier 2 work, then we are on a course for disaster."

Also in this issue, OPEC secretary general Dr. Rilwanu Lukman said his organization is committed to taking action in order to keep oil prices at a stable and fair level for both producers and consumers. Noting that non-OPEC nations are producing at full capacity and providing 60 percent of global production, Lukman says that as global demand rises, OPEC producers will need to "take the lion's share of incremental demand," meaning they must have reasonable income to be able to invest the billions necessary to boost output.

Global petroleum supply will be in the news in the next issue of World Energy as well, when an entire section will focus on the newest plays in the North Sea. The section will include a range of articles from the top explorers and suppliers in the region.

World Energy magazine publishes the thoughts of worldwide leaders of the energy industry, allowing them to select their topics and publishing them in an unedited format. The company's sister publication, Energy Houston, also publishes articles from the top business leaders in the Houston area, including those in the E&P business, power companies, consultants and suppliers, and government figures.

All articles published in World Energy and Energy Houston, as well as a wealth of other industry information, are also available at the publications' Web site, www.worldenergysource.com. This resource makes it possible for those researching the energy industry to access financial reports on major energy companies, stock quotes, government data bases, international times, and worldwide air schedules and airport information, plus daily news updates and an international events calendar. The site also translates all English material into five other languages -- Spanish, French, German, Italian, Portuguese and Japanese.